RiverPark Advisors LLC Has $302,000 Stake in Freshpet, Inc. (NASDAQ:FRPT)

RiverPark Advisors LLC decreased its position in Freshpet, Inc. (NASDAQ:FRPT) by 14.1% in the third quarter, HoldingsChannel reports. The firm owned 2,207 shares of the company’s stock after selling 361 shares during the period. RiverPark Advisors LLC’s holdings in Freshpet were worth $302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Freshpet during the 1st quarter valued at $244,000. Russell Investments Group Ltd. boosted its stake in shares of Freshpet by 5,447.4% during the 1st quarter. Russell Investments Group Ltd. now owns 10,651 shares of the company’s stock valued at $1,234,000 after buying an additional 10,459 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Freshpet by 2.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 47,991 shares of the company’s stock valued at $5,560,000 after buying an additional 1,309 shares during the period. Vanguard Group Inc. boosted its stake in shares of Freshpet by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,666,407 shares of the company’s stock valued at $540,650,000 after buying an additional 13,709 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Freshpet during the 1st quarter valued at $185,000.

Insider Buying and Selling

In related news, insider Thembeka Machaba sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total transaction of $384,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares of the company’s stock, valued at approximately $12,046,320.39. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Freshpet Price Performance

Shares of FRPT stock opened at $150.00 on Friday. Freshpet, Inc. has a 1 year low of $68.14 and a 1 year high of $159.12. The firm’s 50 day moving average is $140.98 and its 200-day moving average is $132.16. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 168.54 and a beta of 1.39. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same period in the prior year, the business earned ($0.15) earnings per share. Freshpet’s quarterly revenue was up 26.3% on a year-over-year basis. Sell-side analysts forecast that Freshpet, Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

FRPT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Freshpet from $161.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Freshpet in a research note on Friday, November 1st. StockNews.com raised shares of Freshpet from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, TD Cowen lifted their price objective on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.80.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.