2,219 Shares in UFP Technologies, Inc. (NASDAQ:UFPT) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,219 shares of the industrial products company's stock, valued at approximately $585,000.

Other institutional investors have also recently bought and sold shares of the company. Congress Asset Management Co. MA boosted its holdings in shares of UFP Technologies by 174.1% in the first quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company's stock valued at $46,893,000 after buying an additional 118,106 shares during the period. Swedbank AB bought a new stake in shares of UFP Technologies during the 1st quarter valued at $25,220,000. Price T Rowe Associates Inc. MD lifted its position in UFP Technologies by 2,331.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company's stock worth $10,879,000 after purchasing an additional 41,360 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of UFP Technologies by 83.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company's stock worth $18,791,000 after acquiring an additional 33,806 shares in the last quarter. Finally, Norden Group LLC raised its holdings in shares of UFP Technologies by 1,464.8% during the 1st quarter. Norden Group LLC now owns 31,405 shares of the industrial products company's stock worth $7,920,000 after buying an additional 29,398 shares in the last quarter. Institutional investors own 87.28% of the company's stock.

Insider Buying and Selling

In related news, CFO Ronald J. Lataille sold 4,798 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $330.44, for a total value of $1,585,451.12. Following the transaction, the chief financial officer now directly owns 41,332 shares in the company, valued at approximately $13,657,746.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald J. Lataille sold 4,798 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the completion of the sale, the chief financial officer now owns 41,332 shares of the company's stock, valued at approximately $13,657,746.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,134 shares of company stock worth $21,494,247 over the last ninety days. 6.17% of the stock is owned by corporate insiders.

UFP Technologies Stock Performance

UFPT stock traded down $2.59 during midday trading on Friday, hitting $289.98. The company's stock had a trading volume of 94,624 shares, compared to its average volume of 54,349. UFP Technologies, Inc. has a 1 year low of $127.29 and a 1 year high of $366.41. The stock's 50-day moving average price is $322.39 and its 200 day moving average price is $280.31. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 46.62 and a beta of 0.93. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share for the quarter. The business had revenue of $110.18 million for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%.

Analysts Set New Price Targets

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

About UFP Technologies

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.