Chris Folena Sells 724 Shares of Once Upon A Farm (NYSE:OFRM) Stock

Key Points

• CAO Chris Folena sold 724 Once Upon A Farm shares at an average price of $18.01, worth $13,039.24. The sale covered tax withholding obligations tied to vested equity awards and reduced Folena’s position by 5.38%.
• OFRM shares rose 5.2% to $17.57, while the company’s latest quarterly results beat expectations with an adjusted loss of $0.12 per share versus the $0.18 consensus estimate and revenue of $85.39 million.
• Analyst sentiment remains mixed, with five Buy, five Hold and one Sell rating; the stock has a consensus rating of Hold and an average price target of $25.88. Institutional ownership also increased, led by BlackRock’s 225.9% expansion of its stake.

Once Upon A Farm (NYSE:OFRM - Get Free Report) CAO Chris Folena sold 724 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $18.01, for a total value of $13,039.24. Following the sale, the chief accounting officer directly owned 12,724 shares in the company, valued at $229,159.24. This trade represents a 5.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Once Upon A Farm Trading Up 5.2%

Shares of OFRM traded up $0.87 during trading hours on Wednesday, hitting $17.57. The company had a trading volume of 595,389 shares, compared to its average volume of 489,331. Once Upon A Farm has a one year low of $14.00 and a one year high of $27.00. The business's fifty day moving average price is $18.01.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last posted its earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The company had revenue of $85.39 million during the quarter. On average, equities research analysts forecast that Once Upon A Farm will post -0.29 EPS for the current year.

Analyst Ratings Changes

OFRM has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Once Upon A Farm from $26.00 to $18.00 and set a "hold" rating for the company in a research report on Monday, April 20th. Weiss Ratings reissued a "sell (e-)" rating on shares of Once Upon A Farm in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Once Upon A Farm from $22.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Barclays upped their target price on Once Upon A Farm from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Evercore set a $23.00 price target on Once Upon A Farm in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Once Upon A Farm presently has an average rating of "Hold" and a consensus price target of $25.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OFRM. BlackRock Inc. grew its holdings in shares of Once Upon A Farm by 225.9% during the second quarter. BlackRock Inc. now owns 859,180 shares of the organic kids food company's stock valued at $17,596,000 after buying an additional 595,571 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Once Upon A Farm in the 2nd quarter worth $781,000. Deutsche Bank AG lifted its position in Once Upon A Farm by 3.0% during the 2nd quarter. Deutsche Bank AG now owns 102,990 shares of the organic kids food company's stock worth $2,109,000 after acquiring an additional 2,990 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new stake in Once Upon A Farm during the 2nd quarter valued at about $1,665,000.

About Once Upon A Farm

Once Upon A Farm NYSE: OFRM is a U.S.-based producer of refrigerated organic foods for infants, toddlers and young children. The company’s product lineup emphasizes cold-pressed, organic purees, blends and smoothies formulated for early childhood nutrition. Its offerings are positioned around whole-food ingredients, limited processing and claims of no artificial preservatives or added sugars, with packaging designed for convenience and on-the-go feeding.

Once Upon A Farm distributes its products through a combination of retail and direct-to-consumer channels, serving customers primarily across the United States.

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