Allspring Global Investments Holdings LLC Increases Holdings in Freshpet, Inc. (NASDAQ:FRPT)

Allspring Global Investments Holdings LLC grew its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 198.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 381,385 shares of the company's stock after purchasing an additional 253,679 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.79% of Freshpet worth $55,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in Freshpet by 302.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 201 shares of the company's stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Freshpet during the third quarter valued at about $32,000. R Squared Ltd purchased a new stake in shares of Freshpet in the fourth quarter worth about $39,000. Brooklyn Investment Group bought a new position in shares of Freshpet in the third quarter valued at approximately $54,000. Finally, Capital Performance Advisors LLP purchased a new position in Freshpet during the third quarter valued at approximately $57,000.

Freshpet Price Performance

FRPT traded down $1.68 during midday trading on Monday, hitting $129.61. The stock had a trading volume of 633,801 shares, compared to its average volume of 554,699. Freshpet, Inc. has a 1 year low of $85.50 and a 1 year high of $164.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The business has a fifty day moving average of $147.90 and a 200 day moving average of $143.34. The company has a market cap of $6.29 billion, a P/E ratio of 145.63 and a beta of 1.42.

Insider Activity

In other news, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the transaction, the president now owns 122,380 shares in the company, valued at approximately $19,260,164.40. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FRPT. Wells Fargo & Company increased their target price on shares of Freshpet from $157.00 to $175.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Benchmark reaffirmed a "buy" rating and issued a $150.00 price target on shares of Freshpet in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Freshpet from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on Freshpet from $126.00 to $154.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Freshpet from $161.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Freshpet presently has a consensus rating of "Moderate Buy" and an average target price of $164.29.

About Freshpet

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.