Emerald Advisers LLC Sells 146,492 Shares of Freshpet, Inc. $FRPT

Emerald Advisers LLC trimmed its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 28.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 374,683 shares of the company’s stock after selling 146,492 shares during the period. Emerald Advisers LLC owned about 0.77% of Freshpet worth $20,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new position in Freshpet during the second quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Freshpet by 1,388.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 472 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Freshpet in the 2nd quarter worth $35,000. Ossiam raised its position in Freshpet by 81.1% in the 2nd quarter. Ossiam now owns 509 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Freshpet by 258.9% in the second quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock worth $37,000 after purchasing an additional 391 shares during the last quarter.

Insider Activity

In related news, President Scott James Morris sold 63,135 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $55.21, for a total value of $3,485,683.35. Following the completion of the transaction, the president directly owned 160,476 shares of the company’s stock, valued at $8,859,879.96. This represents a 28.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.43% of the stock is owned by corporate insiders.

Freshpet Price Performance

Shares of FRPT stock opened at $69.86 on Thursday. The firm has a market cap of $3.41 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.65 and a beta of 1.71. Freshpet, Inc. has a fifty-two week low of $46.76 and a fifty-two week high of $164.07. The business’s 50 day moving average price is $60.95 and its 200-day moving average price is $59.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.61 and a current ratio of 5.52.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Monday, November 3rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $1.43. The company had revenue of $288.85 million during the quarter, compared to the consensus estimate of $283.73 million. Freshpet had a return on equity of 5.73% and a net margin of 11.44%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, equities research analysts anticipate that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FRPT shares. Wells Fargo & Company raised their price objective on Freshpet from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley assumed coverage on Freshpet in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $71.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Freshpet from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Bank of America increased their price objective on Freshpet from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Finally, TD Cowen restated a “hold” rating on shares of Freshpet in a report on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.75.

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.