Michael Kirban Sells 6,000 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the transaction, the chairman now owns 1,663,049 shares in the company, valued at $58,206,715. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $35.06, for a total transaction of $701,200.00.
• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Stock Performance

NASDAQ:COCO traded up $0.42 during mid-day trading on Thursday, reaching $35.57. 408,643 shares of the company’s stock were exchanged, compared to its average volume of 547,887. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The firm has a market capitalization of $2.03 billion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The business’s fifty day simple moving average is $36.24 and its two-hundred day simple moving average is $33.55.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of the business. Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% in the 3rd 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 during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Vita Coco in the 3rd quarter valued at approximately $1,145,000. Moran Wealth Management LLC boosted its position in Vita Coco by 43.5% during the 3rd quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock worth $515,000 after buying an additional 5,517 shares during the period. Intech Investment Management LLC acquired a new stake in Vita Coco during the 3rd quarter worth approximately $256,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Vita Coco by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock worth $9,174,000 after buying an additional 57,622 shares during the period. 88.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company cut their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Bank of America raised their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.