Freshpet (NASDAQ:FRPT) Shares Down 6.8% – Time to Sell?

Freshpet, Inc. (NASDAQ:FRPT)’s stock price traded down 6.8% during mid-day trading on Monday . The company traded as low as $51.60 and last traded at $51.2630. 197,858 shares were traded during trading, a decline of 87% from the average session volume of 1,517,776 shares. The stock had previously closed at $55.01.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FRPT shares. Piper Sandler reissued an “overweight” rating on shares of Freshpet in a research note on Monday, June 15th. DA Davidson increased their price objective on shares of Freshpet from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 13th. Oppenheimer upgraded shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Friday, March 20th. TD Cowen raised shares of Freshpet from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, April 8th. Finally, Stephens restated an “overweight” rating and set a $90.00 price target on shares of Freshpet in a research report on Tuesday, February 24th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Freshpet presently has an average rating of “Moderate Buy” and a consensus price target of $74.88.

Freshpet Stock Down 5.7%

The company has a current ratio of 6.18, a quick ratio of 5.26 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $56.64 and a two-hundred day simple moving average of $63.83. The company has a market cap of $2.55 billion, a PE ratio of 13.88 and a beta of 1.63.

Insider Transactions at Freshpet

In related news, CEO William B. Cyr sold 42,495 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $51.03, for a total transaction of $2,168,519.85. Following the completion of the sale, the chief executive officer owned 224,459 shares of the company’s stock, valued at approximately $11,454,142.77. This represents a 15.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig D. Steeneck acquired 2,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $47.83 per share, with a total value of $95,660.00. Following the acquisition, the director owned 37,500 shares in the company, valued at $1,793,625. The trade was a 5.63% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 4,211 shares of company stock valued at $215,027 and sold 235,262 shares valued at $11,664,591. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FRPT. Royal Bank of Canada increased its holdings in shares of Freshpet by 86.3% in the first quarter. Royal Bank of Canada now owns 67,623 shares of the company’s stock valued at $5,624,000 after purchasing an additional 31,334 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Freshpet by 734.1% during the first quarter. Jones Financial Companies Lllp now owns 1,810 shares of the company’s stock worth $151,000 after buying an additional 1,593 shares during the last quarter. United Services Automobile Association purchased a new stake in Freshpet in the 1st quarter valued at $247,000. EverSource Wealth Advisors LLC grew its holdings in Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 472 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in Freshpet by 140.3% in the 2nd quarter. Cresset Asset Management LLC now owns 6,296 shares of the company’s stock valued at $428,000 after buying an additional 3,676 shares in the last quarter.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.