Assenagon Asset Management S.A. Sells 7,229 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Assenagon Asset Management S.A. cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 44.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,932 shares of the industrial products company’s stock after selling 7,229 shares during the period. Assenagon Asset Management S.A.’s holdings in UFP Technologies were worth $2,829,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in UFP Technologies by 1,614.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in UFP Technologies during the 3rd quarter worth approximately $32,000. Advisors Asset Management Inc. bought a new position in UFP Technologies in the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in UFP Technologies in the 2nd quarter valued at $36,000. Finally, GAMMA Investing LLC boosted its position in UFP Technologies by 77.9% in the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company’s stock valued at $43,000 after buying an additional 60 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Lake Street Capital increased their price objective on UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

Insider Transactions at UFP Technologies

In other news, CFO Ronald J. Lataille sold 2,392 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the transaction, the chief financial officer now directly owns 38,940 shares in the company, valued at $12,812,817.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO R Jeffrey Bailly sold 10,887 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total value of $3,379,978.02. Following the transaction, the chief executive officer now directly owns 143,970 shares in the company, valued at $44,696,926.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ronald J. Lataille sold 2,392 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the sale, the chief financial officer now directly owns 38,940 shares in the company, valued at $12,812,817.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,134 shares of company stock worth $21,494,247 in the last three months. Insiders own 6.17% of the company’s stock.

UFP Technologies Stock Down 4.7 %

Shares of UFPT opened at $274.00 on Thursday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 42.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. The business’s fifty day moving average price is $314.44 and its two-hundred day moving average price is $287.78. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $366.41.

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

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.