DRW Securities LLC Takes Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

DRW Securities LLC acquired a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,931 shares of the company’s stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. nVerses Capital LLC grew its stake in shares of Vita Coco by 271.4% during the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares during the period. CWM LLC grew its position in Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares during the period. Comerica Bank increased its holdings in Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares in the last quarter. Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Vita Coco during the 2nd quarter valued at approximately $141,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upped their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Vita Coco Price Performance

Shares of NASDAQ COCO opened at $35.91 on Wednesday. The firm’s 50-day moving average is $31.19 and its two-hundred day moving average is $28.38. The company has a market capitalization of $2.04 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.22. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $37.05.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. On average, analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 27,176 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the transaction, the director now owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 2,244 shares of Vita Coco stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the transaction, the chief operating officer now owns 124,605 shares in the company, valued at approximately $3,739,396.05. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,313 shares of company stock valued at $1,813,768 in the last quarter. 34.20% of the stock is currently owned by company insiders.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.