PetMed Express (NASDAQ:PETS) Upgraded at Wall Street Zen

Key Points

• PetMed Express has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Morgan Stanley has lowered its target price for PetMed Express shares from $3.50 to $3.20 and assigned an "underweight" rating.
• PetMed Express shares have dropped by 5.3% recently, reflecting mixed investor sentiment and analyst ratings.

PetMed Express (NASDAQ:PETS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Morgan Stanley dropped their target price on PetMed Express from $3.50 to $3.20 and set an "underweight" rating on the stock in a report on Thursday, April 17th.

PetMed Express Trading Down 5.3%

PetMed Express stock traded down $0.21 during midday trading on Friday, reaching $3.77. 156,461 shares of the stock traded hands, compared to its average volume of 155,983. The firm has a fifty day moving average price of $3.57 and a two-hundred day moving average price of $3.93. The firm has a market cap of $77.89 million, a price-to-earnings ratio of 377.38 and a beta of 0.78. PetMed Express has a fifty-two week low of $2.90 and a fifty-two week high of $6.85.

Insider Buying and Selling

In related news, CEO Sandra Yvette Campos sold 60,463 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.31, for a total value of $200,132.53. Following the sale, the chief executive officer directly owned 578,524 shares in the company, valued at $1,914,914.44. The trade was a 9.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Silvercape Investments Ltd bought 17,565 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average price of $3.23 per share, for a total transaction of $56,734.95. Following the completion of the acquisition, the insider directly owned 2,360,496 shares in the company, valued at approximately $7,624,402.08. This represents a 0.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 59,484 shares of company stock worth $194,898 over the last quarter. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On PetMed Express

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of PetMed Express by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company's stock valued at $139,000 after acquiring an additional 12,360 shares during the period. Caption Management LLC purchased a new position in PetMed Express during the first quarter valued at approximately $242,000. American Century Companies Inc. grew its position in PetMed Express by 80.1% during the first quarter. American Century Companies Inc. now owns 60,629 shares of the company's stock valued at $254,000 after purchasing an additional 26,967 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in PetMed Express during the first quarter valued at approximately $295,000. Finally, Formidable Asset Management LLC grew its position in PetMed Express by 394.5% during the fourth quarter. Formidable Asset Management LLC now owns 135,251 shares of the company's stock valued at $652,000 after purchasing an additional 107,902 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.