Freshpet, Inc. $FRPT Shares Sold by Envestnet Asset Management Inc.

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

Several other institutional investors also recently bought and sold shares of the business. Wasatch Advisors LP boosted its holdings in shares of Freshpet by 41.0% during the second quarter. Wasatch Advisors LP now owns 3,839,332 shares of the company’s stock worth $260,921,000 after purchasing an additional 1,116,217 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Freshpet by 41.5% during the second quarter. Champlain Investment Partners LLC now owns 2,568,954 shares of the company’s stock worth $174,586,000 after buying an additional 753,070 shares during the period. AQR Capital Management LLC boosted its stake in Freshpet by 278.5% in the 2nd quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock worth $58,444,000 after buying an additional 632,756 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Freshpet by 62.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 635,584 shares of the company’s stock valued at $43,194,000 after buying an additional 245,156 shares during the period. Finally, Engaged Capital LLC purchased a new stake in Freshpet in the 2nd quarter valued at about $42,076,000.

Freshpet Stock Performance

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

Insider Buying and Selling

In other news, President Scott James Morris sold 5,142 shares of Freshpet stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $62.33, for a total transaction of $320,500.86. Following the sale, the president directly owned 30,858 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 4.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FRPT has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of Freshpet from $60.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, December 19th. UBS Group set a $48.00 price objective on shares of Freshpet and gave the company a “sell” rating in a research note on Tuesday, November 4th. Robert W. Baird cut their target price on Freshpet from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Jefferies Financial Group restated a “hold” rating and set a $56.00 price target on shares of Freshpet in a research note on Tuesday, November 4th. Finally, Weiss Ratings raised Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.60.

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.