Vital Farms (NASDAQ:VITL) Trading Down 4.6% Following Insider Selling

Vital Farms, Inc. (NASDAQ:VITLGet Free Report) shares dropped 4.6% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $34.16 and last traded at $34.73. Approximately 307,400 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 477,709 shares. The stock had previously closed at $36.41.

Specifically, insider Matthew Ohayer sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $33.15, for a total transaction of $132,600.00. Following the transaction, the insider now directly owns 7,438,777 shares in the company, valued at $246,595,457.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vital Farms news, insider Matthew Ohayer sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $33.15, for a total value of $132,600.00. Following the transaction, the insider now directly owns 7,438,777 shares in the company, valued at approximately $246,595,457.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Russell Diez-Canseco sold 9,735 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $30.00, for a total transaction of $292,050.00. Following the completion of the transaction, the chief executive officer now owns 403,693 shares in the company, valued at $12,110,790. The disclosure for this sale can be found here. Insiders sold 246,332 shares of company stock valued at $5,579,237 over the last 90 days. Corporate insiders own 30.20% of the company’s stock.

Analysts Set New Price Targets

VITL has been the topic of a number of analyst reports. William Blair initiated coverage on shares of Vital Farms in a report on Wednesday, April 10th. They issued an “outperform” rating on the stock. DA Davidson lifted their price target on shares of Vital Farms from $28.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Lake Street Capital lifted their price target on shares of Vital Farms from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TD Cowen lifted their price target on shares of Vital Farms from $19.00 to $37.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, TheStreet raised shares of Vital Farms from a “c” rating to a “b-” rating in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Vital Farms presently has a consensus rating of “Moderate Buy” and an average price target of $34.40.

Read Our Latest Report on VITL

Vital Farms Stock Up 4.0 %

The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 43.54 and a beta of 0.79. The stock’s fifty day simple moving average is $25.45 and its two-hundred day simple moving average is $18.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.10 and a quick ratio of 2.66.

Vital Farms (NASDAQ:VITLGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $147.93 million during the quarter, compared to analyst estimates of $139.87 million. Vital Farms had a net margin of 7.48% and a return on equity of 19.58%. On average, sell-side analysts predict that Vital Farms, Inc. will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vital Farms

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VITL. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Vital Farms by 52.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,196 shares of the company’s stock valued at $95,000 after acquiring an additional 2,833 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Vital Farms by 211.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,175 shares of the company’s stock valued at $97,000 after purchasing an additional 4,192 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Vital Farms during the third quarter valued at approximately $119,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Vital Farms in the fourth quarter worth $127,000. Finally, New York State Common Retirement Fund grew its stake in shares of Vital Farms by 49.0% in the fourth quarter. New York State Common Retirement Fund now owns 10,169 shares of the company’s stock worth $160,000 after acquiring an additional 3,346 shares during the last quarter. Institutional investors own 98.59% of the company’s stock.

About Vital Farms

(Get Free Report)

Vital Farms, Inc, a food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, and liquid whole eggs. The company was founded in 2007 and is headquartered in Austin, Texas.

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