Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells 20,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the transaction, the chairman now directly owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 Price Performance

Shares of COCO stock traded down $0.64 during mid-day trading on Tuesday, hitting $34.62. The stock had a trading volume of 327,894 shares, compared to its average volume of 549,259. The Vita Coco Company, Inc. has a 12-month low of $23.00 and a 12-month high of $40.32. The firm has a market capitalization of $1.97 billion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The firm’s 50-day moving average is $36.21 and its two-hundred day moving average is $33.48.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COCO shares. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research report on Monday, January 27th. Bank of America upped their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. The Goldman Sachs Group upped their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $35.14.

Institutional Investors Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in COCO. Wasatch Advisors LP lifted its holdings in shares of Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after buying an additional 1,799,168 shares during the period. Woodson Capital Management LP purchased a new stake in shares of Vita Coco in the 3rd quarter worth $19,224,000. Victory Capital Management Inc. lifted its holdings in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after buying an additional 461,748 shares during the period. Bank of America Corp DE lifted its holdings in shares of Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock worth $18,902,000 after buying an additional 405,913 shares during the period. Finally, Driehaus Capital Management LLC lifted its stake in shares of Vita Coco by 77.3% during the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock worth $31,544,000 after purchasing an additional 372,633 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.