Redmond Asset Management LLC decreased its position in Fox Factory Holding Corp (NASDAQ:FOXF) by 18.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,803 shares of the company’s stock after selling 4,376 shares during the quarter. Redmond Asset Management LLC’s holdings in Fox Factory were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Fox Factory during the 4th quarter valued at approximately $19,815,000. Geode Capital Management LLC grew its holdings in Fox Factory by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 424,683 shares of the company’s stock valued at $25,000,000 after buying an additional 30,449 shares in the last quarter. Huntington National Bank bought a new stake in shares of Fox Factory in the 1st quarter valued at approximately $33,000. Nisa Investment Advisors LLC bought a new stake in shares of Fox Factory in the 1st quarter valued at approximately $31,000. Finally, Brookstone Capital Management lifted its stake in shares of Fox Factory by 18.6% in the 1st quarter. Brookstone Capital Management now owns 5,988 shares of the company’s stock valued at $419,000 after purchasing an additional 938 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.
In related news, CFO Zvi Glasman sold 5,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $82.50, for a total transaction of $412,500.00. Following the transaction, the chief financial officer now directly owns 20,284 shares in the company, valued at approximately $1,673,430. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Larry L. Enterline sold 100,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $67.41, for a total value of $6,741,000.00. Following the transaction, the chief executive officer now owns 5,652 shares in the company, valued at $381,001.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,220 shares of company stock worth $7,942,779. 2.30% of the stock is owned by company insiders.
Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. Fox Factory had a return on equity of 29.77% and a net margin of 12.45%. The business had revenue of $192.10 million for the quarter, compared to the consensus estimate of $187.96 million. During the same period last year, the business posted $0.56 EPS. The business’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts expect that Fox Factory Holding Corp will post 2.62 EPS for the current year.
A number of equities research analysts recently issued reports on the company. SunTrust Banks raised their price target on Fox Factory to $70.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research raised Fox Factory from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Friday, August 2nd. Bank of America restated a “neutral” rating and set a $86.00 price objective (up from $78.00) on shares of Fox Factory in a report on Thursday, August 1st. BidaskClub downgraded Fox Factory from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on Fox Factory from $72.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Fox Factory presently has a consensus rating of “Buy” and an average target price of $75.83.
Fox Factory Profile
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.
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