Freshpet, Inc. (NASDAQ:FRPT) EVP Stephen Macchiaverna Sells 1,000 Shares

Friday, June 11, 2021 | MarketBeat

Freshpet, Inc. (NASDAQ:FRPT) EVP Stephen Macchiaverna sold 1,000 shares of Freshpet stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $177.00, for a total transaction of $177,000.00. Following the completion of the sale, the executive vice president now owns 82,497 shares in the company, valued at approximately $14,601,969. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Stephen Macchiaverna also recently made the following trade(s):

  • On Wednesday, June 2nd, Stephen Macchiaverna sold 2,000 shares of Freshpet stock. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00.
  • On Monday, March 15th, Stephen Macchiaverna sold 2,466 shares of Freshpet stock. The shares were sold at an average price of $155.23, for a total transaction of $382,797.18.

Shares of FRPT traded down $0.02 during trading hours on Friday, hitting $167.81. The company had a trading volume of 4,073 shares, compared to its average volume of 334,931. The company's fifty day moving average is $172.43. The stock has a market capitalization of $7.26 billion, a PE ratio of -665.48 and a beta of 0.73. Freshpet, Inc. has a 52-week low of $76.85 and a 52-week high of $186.98.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Sunday, May 2nd. The company reported ($0.26) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.02) by ($0.24). Freshpet had a negative return on equity of 2.21% and a negative net margin of 3.07%. The business had revenue of $93.41 million during the quarter, compared to analysts' expectations of $94.89 million. During the same period last year, the firm posted ($0.10) EPS. Freshpet's quarterly revenue was up 33.3% compared to the same quarter last year. Research analysts predict that Freshpet, Inc. will post 0.06 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of FRPT. Price T Rowe Associates Inc. MD raised its position in Freshpet by 11,186.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,727,995 shares of the company's stock worth $274,423,000 after buying an additional 1,712,684 shares during the last quarter. Fred Alger Management LLC purchased a new position in Freshpet in the 1st quarter worth about $117,975,000. Norges Bank purchased a new position in Freshpet in the 4th quarter worth about $59,369,000. BlackRock Inc. raised its position in Freshpet by 9.9% in the 1st quarter. BlackRock Inc. now owns 4,480,036 shares of the company's stock worth $711,474,000 after buying an additional 404,131 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Freshpet by 46.4% in the 1st quarter. Franklin Resources Inc. now owns 1,147,490 shares of the company's stock worth $182,233,000 after buying an additional 363,951 shares during the last quarter. 94.53% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Credit Suisse Group lifted their price target on shares of Freshpet from $115.00 to $150.00 and gave the company a "neutral" rating in a report on Wednesday, February 24th. Oppenheimer boosted their target price on shares of Freshpet from $175.00 to $200.00 and gave the company an "average" rating in a report on Tuesday, April 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Freshpet from a "sell" rating to a "hold" rating in a report on Wednesday, May 5th. Robert W. Baird boosted their target price on shares of Freshpet from $180.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, May 4th. Finally, Truist Securities boosted their target price on shares of Freshpet from $150.00 to $175.00 and gave the company a "hold" rating in a report on Tuesday, May 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of "Buy" and an average target price of $159.56.

About Freshpet

Freshpet, Inc manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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