Gilder Gagnon Howe & Co. LLC raised its position in Beyond Meat (NASDAQ:BYND) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,228 shares of the company’s stock after purchasing an additional 11,840 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 0.65% of Beyond Meat worth $54,560,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in BYND. Allworth Financial LP increased its position in shares of Beyond Meat by 326.1% in the second quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Beyond Meat in the second quarter valued at about $30,000. Carroll Financial Associates Inc. increased its position in shares of Beyond Meat by 2,511.1% in the second quarter. Carroll Financial Associates Inc. now owns 235 shares of the company’s stock valued at $31,000 after acquiring an additional 226 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of Beyond Meat by 100.0% in the first quarter. Harbor Investment Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after acquiring an additional 250 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new stake in shares of Beyond Meat in the first quarter valued at about $33,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ BYND traded down $3.98 during midday trading on Friday, reaching $125.82. The company’s stock had a trading volume of 4,640,935 shares, compared to its average volume of 3,453,761. The business’s 50 day moving average price is $128.24 and its two-hundred day moving average price is $115.22. The company has a market cap of $7.86 billion, a P/E ratio of -1,572.75 and a beta of 2.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.32 and a current ratio of 6.48. Beyond Meat has a fifty-two week low of $48.18 and a fifty-two week high of $167.16.
Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). Beyond Meat had a negative net margin of 1.18% and a positive return on equity of 1.11%. The company had revenue of $113.34 million for the quarter, compared to analysts’ expectations of $99.35 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Beyond Meat’s revenue for the quarter was up 68.5% on a year-over-year basis. Sell-side analysts forecast that Beyond Meat will post 0.07 earnings per share for the current fiscal year.
BYND has been the topic of a number of recent research reports. BidaskClub downgraded Beyond Meat from a “hold” rating to a “sell” rating in a research report on Tuesday, August 11th. Zacks Investment Research cut Beyond Meat from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Cfra cut Beyond Meat to a “sell” rating in a report on Wednesday, May 13th. BTIG Research assumed coverage on Beyond Meat in a report on Monday, May 18th. They set a “buy” rating and a $173.00 price target for the company. Finally, Goldman Sachs Group lifted their price target on Beyond Meat from $44.00 to $112.00 and gave the stock a “sell” rating in a report on Monday, August 10th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $114.55.
In other Beyond Meat news, insider Cari Soto sold 211 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $130.33, for a total transaction of $27,499.63. Following the sale, the insider now owns 10,399 shares of the company’s stock, valued at $1,355,301.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Teri L. Witteman sold 222 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $130.33, for a total transaction of $28,933.26. Following the sale, the general counsel now directly owns 49,362 shares in the company, valued at approximately $6,433,349.46. The disclosure for this sale can be found here. In the last three months, insiders sold 136,393 shares of company stock worth $18,356,510. 11.00% of the stock is currently owned by insiders.
Beyond Meat Profile
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
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