Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by Deepwater Asset Management LLC

Deepwater Asset Management LLC decreased its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 20.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,413 shares of the company’s stock after selling 28,546 shares during the quarter. Freshpet comprises 5.0% of Deepwater Asset Management LLC’s holdings, making the stock its 16th biggest position. Deepwater Asset Management LLC owned approximately 0.24% of Freshpet worth $13,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of FRPT. JANA Partners Management LP acquired a new position in Freshpet during the 3rd quarter valued at approximately $214,405,000. Norges Bank acquired a new position in Freshpet during the 4th quarter valued at approximately $40,327,000. Jennison Associates LLC increased its stake in Freshpet by 36.6% during the 4th quarter. Jennison Associates LLC now owns 915,827 shares of the company’s stock valued at $79,457,000 after purchasing an additional 245,403 shares in the last quarter. Victory Capital Management Inc. increased its stake in Freshpet by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 345,810 shares of the company’s stock valued at $30,002,000 after purchasing an additional 234,836 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Freshpet by 3,434.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 226,316 shares of the company’s stock valued at $19,635,000 after purchasing an additional 219,913 shares in the last quarter.

Freshpet Price Performance

Shares of NASDAQ:FRPT traded up $1.62 during midday trading on Tuesday, hitting $130.62. The company’s stock had a trading volume of 140,306 shares, compared to its average volume of 601,395. The business’s 50 day simple moving average is $123.73 and its 200 day simple moving average is $106.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.09 and a current ratio of 4.97. The company has a market cap of $6.33 billion, a P/E ratio of 728.71 and a beta of 1.36. Freshpet, Inc. has a 12-month low of $54.60 and a 12-month high of $132.84.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.43. Freshpet had a net margin of 1.19% and a return on equity of 0.20%. The firm had revenue of $223.85 million during the quarter, compared to analysts’ expectations of $216.43 million. On average, analysts forecast that Freshpet, Inc. will post 0.54 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FRPT. StockNews.com upgraded shares of Freshpet to a “sell” rating in a research note on Saturday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective on shares of Freshpet in a research note on Tuesday. Wells Fargo & Company increased their price objective on shares of Freshpet from $124.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Robert W. Baird increased their price objective on shares of Freshpet from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Redburn Atlantic upgraded shares of Freshpet from a “neutral” rating to a “buy” rating and set a $168.00 price objective on the stock in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.25.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 6,548 shares of Freshpet stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.15, for a total transaction of $786,742.20. Following the completion of the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $10,337,585.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 13,560 shares of company stock worth $1,701,580 over the last three months. Insiders own 3.60% of the company’s stock.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.