Michael Kirban Sells 20,000 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the transaction, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at approximately $69,355,336.53. The trade was a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Kirban also recently made the following trade(s):

• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $35.06, for a total value of $701,200.00.

Vita Coco Stock Performance

Vita Coco stock opened at $35.15 on Thursday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32. The stock’s 50 day moving average price is $36.24 and its two-hundred day moving average price is $33.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares during the period. Quest Partners LLC raised its stake in Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Vita Coco in the third quarter worth approximately $1,145,000. Moran Wealth Management LLC grew its stake in Vita Coco by 43.5% in the third quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock valued at $515,000 after acquiring an additional 5,517 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Vita Coco during the third quarter valued at approximately $256,000. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COCO has been the subject of a number of recent research reports. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a report on Monday, January 27th. The Goldman Sachs Group raised their price objective on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Company Profile

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.