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Matthew Ohayer, the Executive Chairperson of Vital Farms, Inc. (NASDAQ:VITL), recently sold shares of the company’s stock totaling $838,574, according to a recent SEC filing. The transactions, executed on February 19, were part of a pre-arranged trading plan under Rule 10b5-1. The sale comes as Vital Farms maintains a strong financial position, with InvestingPro data showing the company holds more cash than debt and boasts an impressive 93% return over the past year.
The sales involved two separate transactions of Vital Farms’ common stock. In the first transaction, Ohayer sold 11,500 shares at a weighted average price of $34.55 per share, with the price range for these sales spanning from $34.07 to $35.06. The second transaction involved the sale of 12,500 shares at a weighted average price of $35.30 per share, with prices ranging from $35.09 to $35.51. With a market capitalization of $1.53 billion and strong fundamentals, InvestingPro analysis suggests the stock is currently trading below its Fair Value.
Following these transactions, Ohayer holds direct ownership of 6,990,890 shares of Vital Farms’ common stock. Additionally, he maintains sole voting control over 1,742,000 shares held indirectly by his former spouse, although he does not have a pecuniary interest in these shares.
These sales were conducted as part of a trading plan that Ohayer adopted in June 2023, allowing for the systematic sale of shares over time.
In other recent news, Vital Farms has received attention from multiple analyst firms regarding its financial outlook and stock performance. TD Cowen raised its price target for Vital Farms to $49.00, up from $45.00, maintaining a Buy rating. This adjustment follows the company’s announcement of a new capacity expansion plan aimed at achieving its $1 billion sales goal by 2027. DA Davidson also reaffirmed its Buy rating, maintaining a price target of $44.00, with confidence in the company’s long-term prospects despite short-term challenges such as capacity constraints. Lake Street Capital Markets, meanwhile, described Vital Farms as its "highest conviction alpha opportunity" in the small-cap food space, setting a price target of $50.00. The firm highlighted Vital Farms’ strong brand presence and financial performance, noting its potential for robust revenue and EBITDA growth. Analysts from Lake Street Capital Markets also expressed optimism that the company will overcome volatility influenced by short-seller activities. These developments underscore a generally positive outlook from analysts on Vital Farms’ ability to navigate challenges and achieve financial growth.
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