Wells Fargo & Company Issues Pessimistic Forecast for Vita Coco (NASDAQ:COCO) Stock Price

Vita Coco (NASDAQ:COCO) had its price objective lowered by equities researchers at Wells Fargo & Company from $40.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.22% from the stock’s current price.

A number of other equities research analysts have also recently 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 report on Thursday. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a research note on Monday, January 27th. Craig Hallum lifted their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America upped their price target on Vita Coco from $30.00 to $38.00 and gave the stock 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $32.44 on Thursday. The firm’s fifty day simple moving average is $36.68 and its 200-day simple moving average is $32.66. Vita Coco has a 12 month low of $23.00 and a 12 month high of $40.32. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.25 and a beta of 0.30.

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 700 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the sale, the chief operating officer now directly owns 104,108 shares of the company’s stock, valued at $4,190,347. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,270 shares of company stock valued at $4,309,019. 34.20% of the stock is owned by corporate insiders.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently made changes to their positions in COCO. GAMMA Investing LLC grew its position in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Coppell Advisory Solutions LLC boosted its stake in shares of 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 acquiring an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Vita Coco in the 4th quarter worth approximately $52,000. Venturi Wealth Management LLC purchased a new position in Vita Coco in the 4th quarter valued at approximately $66,000. Finally, Quest Partners LLC raised its holdings in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.