Wed Sep 25 09:16:32 UTC 2024: ## Renaissance Technologies Takes a Bite Out of Freshpet Stock
**New York, NY** – Renaissance Technologies LLC, the renowned quantitative investment firm, has taken a new stake in Freshpet, Inc. (NASDAQ:FRPT), a leading provider of fresh pet food. The investment, valued at approximately $8.9 million, was made during the second quarter, according to HoldingsChannel.
This news comes alongside a flurry of other institutional activity in Freshpet. Other notable investors include Johnson Financial Group Inc., GAMMA Investing LLC, ORG Partners LLC, Quarry LP, and Whittier Trust Co., all of whom have either established new positions or increased their holdings in the company in recent quarters.
Analysts are generally bullish on Freshpet’s future. Several research firms have recently upgraded their price targets and ratings on the stock, with TD Cowen, Wells Fargo & Company, Bank of America, Piper Sandler, and Citigroup all issuing positive reports.
Freshpet itself reported strong earnings in the second quarter, exceeding analysts’ expectations on both revenue and earnings per share. The company’s revenue saw a 28.4% year-over-year increase, driven by continued consumer demand for fresh pet food options.
Despite the positive outlook, insider trading activity has been mixed. While Freshpet EVP Stephen Macchiaverna recently sold 2,178 shares, the company’s overall insider ownership remains at a healthy 3.6%.
With a market cap of $6.8 billion, Freshpet continues to attract investor attention. The recent investment by Renaissance Technologies LLC, coupled with strong earnings and positive analyst sentiment, suggests a bright future for the company.
First Piper 