The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells $701,200.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.06, for a total transaction of $701,200.00. Following the sale, the chairman now owns 1,689,049 shares in the company, valued at approximately $59,218,057.94. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, March 19th, Michael Kirban sold 6,000 shares of Vita Coco stock. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00.
• 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

Shares of NASDAQ:COCO opened at $35.57 on Friday. The company 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 stock has a fifty day moving average of $36.27 and a 200-day moving average of $33.56. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC grew its position in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco during the 4th quarter valued at $52,000. Venturi Wealth Management LLC acquired a new stake in Vita Coco during the 4th quarter valued at $66,000. Finally, Quest Partners LLC boosted its position in shares of Vita Coco by 16,538.1% in the third 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. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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