New Wave Wealth Advisors LLC Makes New $148,000 Investment in Freshpet, Inc. (NASDAQ:FRPT)

New Wave Wealth Advisors LLC purchased a new stake in Freshpet, Inc. (NASDAQ:FRPT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $148,000.

Other hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in Freshpet in the 3rd quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its stake in shares of Freshpet by 302.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Freshpet in the third quarter valued at $32,000. R Squared Ltd bought a new position in Freshpet during the 4th quarter worth $39,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Freshpet during the 2nd quarter worth about $52,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FRPT shares. Wells Fargo & Company increased their price target on Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. StockNews.com downgraded shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Freshpet from $161.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their target price on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.36.

Freshpet Stock Performance

Shares of FRPT opened at $159.95 on Friday. The stock has a 50-day moving average of $150.95 and a 200-day moving average of $141.43. Freshpet, Inc. has a one year low of $84.02 and a one year high of $164.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.72 and a quick ratio of 3.91. The company has a market cap of $7.76 billion, a PE ratio of 179.72 and a beta of 1.41.

Freshpet (NASDAQ:FRPT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a return on equity of 3.67% and a net margin of 4.75%. The firm had revenue of $253.40 million during the quarter, compared to the consensus estimate of $248.36 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. On average, equities research analysts predict that Freshpet, Inc. will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Freshpet news, President Scott James Morris sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $158.13, for a total transaction of $790,650.00. Following the completion of the sale, the president now directly owns 122,380 shares of the company’s stock, valued at approximately $19,351,949.40. The trade was a 3.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thembeka Machaba sold 2,500 shares of the firm’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 value of $384,625.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,500 shares of company stock worth $1,962,175. Insiders own 3.70% of the company’s stock.

Freshpet 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.