Envestnet Asset Management Inc. Trims Holdings in Freshpet, Inc. $FRPT

Envestnet Asset Management Inc. reduced its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 37.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 194,333 shares of the company’s stock after selling 116,493 shares during the period. Envestnet Asset Management Inc. owned approximately 0.40% of Freshpet worth $10,710,000 as of its most recent filing with the SEC.

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

Insider Activity at Freshpet

In other Freshpet news, President Scott James Morris sold 5,142 shares of Freshpet stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $62.33, for a total transaction of $320,500.86. Following the completion of the transaction, the president owned 30,858 shares in the company, valued at approximately $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FRPT has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. TD Cowen restated a “hold” rating on shares of Freshpet in a research report on Thursday, January 8th. UBS Group set a $48.00 target price on Freshpet and gave the stock a “sell” rating in a research report on Tuesday, November 4th. Wells Fargo & Company raised their price target on Freshpet from $70.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Finally, DA Davidson decreased their price target on Freshpet from $101.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Freshpet presently has a consensus rating of “Hold” and a consensus price target of $73.60.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $72.97 on Thursday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.52 and a quick ratio of 4.61. The business’s 50 day simple moving average is $66.10 and its 200-day simple moving average is $59.46. Freshpet, Inc. has a 12 month low of $46.76 and a 12 month high of $132.86.

Freshpet Company Profile

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.