UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 35.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,248 shares of the industrial products company's stock after selling 6,214 shares during the quarter. Confluence Investment Management LLC owned 0.15% of UFP Technologies worth $3,562,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Portside Wealth Group LLC grew its holdings in shares of UFP Technologies by 11.1% in the third quarter. Portside Wealth Group LLC now owns 1,875 shares of the industrial products company's stock worth $594,000 after acquiring an additional 187 shares during the period. Oak Ridge Investments LLC purchased a new position in UFP Technologies in the third quarter worth about $1,782,000. Congress Asset Management Co. grew its stake in shares of UFP Technologies by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company's stock valued at $78,004,000 after purchasing an additional 986 shares during the period. Diversify Wealth Management LLC increased its position in shares of UFP Technologies by 11.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,310 shares of the industrial products company's stock valued at $732,000 after purchasing an additional 241 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of UFP Technologies by 8.7% in the third quarter. New York State Teachers Retirement System now owns 2,608 shares of the industrial products company's stock worth $826,000 after buying an additional 208 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital increased their price target on shares of UFP Technologies from $344.00 to $392.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th.

Insider Activity at UFP Technologies

In other news, Director Cynthia L. Feldmann sold 647 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $352.30, for a total transaction of $227,938.10. Following the completion of the sale, the director now owns 4,049 shares in the company, valued at $1,426,462.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO R Jeffrey Bailly sold 1,083 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the sale, the chief executive officer now directly owns 139,341 shares in the company, valued at approximately $43,245,872.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 647 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $352.30, for a total value of $227,938.10. Following the transaction, the director now directly owns 4,049 shares of the company's stock, valued at approximately $1,426,462.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,830 shares of company stock valued at $14,373,135. Corporate insiders own 6.17% of the company's stock.

UFP Technologies Trading Down 0.4 %

NASDAQ:UFPT traded down $1.43 during mid-day trading on Friday, hitting $344.86. 83,800 shares of the stock traded hands, compared to its average volume of 61,008. UFP Technologies, Inc. has a 52 week low of $133.99 and a 52 week high of $366.41. The firm's 50 day moving average is $310.32 and its two-hundred day moving average is $292.21. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 49.20 and a beta of 0.96. The company has a quick ratio of 1.63, a current ratio of 2.56 and a debt-to-equity ratio of 0.61.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.