Chris Folena Sells 662 Shares of Once Upon A Farm (NYSE:OFRM) Stock

Key Points

• Insider sale: Chief Accounting Officer Chris Folena sold 662 Once Upon A Farm shares at $16.98 each, totaling $11,240.76. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 5.2%.
• Stock performance: OFRM shares fell 1.8% to $16.53, with a market capitalization of approximately $694 million. The stock remains well below its 52-week high of $27.00.
• Business and outlook: Once Upon A Farm reported quarterly revenue of $85.39 million and an adjusted EPS loss of $0.12, beating expectations. Analysts hold a consensus “Hold” rating, with an average price target of $25.88.

Once Upon A Farm (NYSE:OFRM - Get Free Report) CAO Chris Folena sold 662 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $16.98, for a total value of $11,240.76. Following the completion of the sale, the chief accounting officer directly owned 12,062 shares of the company's stock, valued at approximately $204,812.76. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Chris Folena also recently made the following trade(s):

• On Monday, August 10th, Chris Folena sold 724 shares of Once Upon A Farm stock. The shares were sold at an average price of $18.01, for a total transaction of $13,039.24.

Once Upon A Farm Stock Down 1.8%

Once Upon A Farm stock traded down $0.30 during midday trading on Wednesday, hitting $16.53. 431,838 shares of the stock were exchanged, compared to its average volume of 540,688. The stock has a market capitalization of $694.09 million and a PE ratio of -45.92. The company has a fifty day simple moving average of $17.04 and a two-hundred day simple moving average of $17.31. Once Upon A Farm has a 52 week low of $14.00 and a 52 week high of $27.00.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last issued its earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The firm had revenue of $85.39 million during the quarter. As a group, equities research analysts anticipate that Once Upon A Farm will post -0.22 EPS for the current fiscal year.

Institutional Trading of Once Upon A Farm

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in shares of Once Upon A Farm in the second quarter valued at about $10,240,000. Public Employees Retirement System of Ohio boosted its position in Once Upon A Farm by 18.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,967 shares of the organic kids food company's stock worth $1,781,000 after acquiring an additional 13,611 shares during the last quarter. Jupiter Topco LLC acquired a new position in Once Upon A Farm during the 2nd quarter worth approximately $9,468,000. Nicholas Investment Partners LP grew its stake in shares of Once Upon A Farm by 271.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 784,166 shares of the organic kids food company's stock worth $16,060,000 after acquiring an additional 573,285 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Once Upon A Farm during the 2nd quarter worth approximately $1,665,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OFRM. Barclays boosted 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 note on Monday, August 10th. JPMorgan Chase & Co. lifted their price objective on Once Upon A Farm from $22.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Once Upon A Farm from a "sell (e-)" rating to a "sell (e)" rating in a research report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $25.88.

About Once Upon A Farm

Once Upon a Farm is a food and nutrition company focused on organic, refrigerated products for babies, children and families. Its product portfolio includes fresh baby food pouches, toddler meals, kids' smoothies, applesauce and other fruit- and vegetable-based snacks made with minimally processed ingredients.

The company was founded in 2015 by Cassandra Curtis, Ari Raz and John Foraker, with actress and entrepreneur Jennifer Garner later joining as a co-founder and brand ambassador. Once Upon a Farm markets its products as convenient alternatives to shelf-stable baby and children's foods, emphasizing organic ingredients, recognizable recipes and refrigerated freshness.

Once Upon a Farm serves customers primarily in the United States through grocery stores, mass retailers, specialty food retailers and direct-to-consumer channels.

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