Vita Coco (NASDAQ:COCO) Given New $38.00 Price Target at The Goldman Sachs Group

Vita Coco (NASDAQ:COCO) had its price target hoisted by The Goldman Sachs Group from $34.00 to $38.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities analysts have also commented on COCO. Stephens lowered 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. Wells Fargo & Company lifted their price objective on Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America lifted their price objective 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

Vita Coco Price Performance

NASDAQ COCO opened at $32.44 on Thursday. Vita Coco has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The stock’s 50-day moving average is $36.61 and its two-hundred day moving average is $32.70. The firm has a market cap of $1.84 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.30.

Insider Activity at Vita Coco

In related news, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the transaction, the director now directly owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. This represents a 3.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 700 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.25, for a total transaction of $28,175.00. Following the completion of the transaction, the chief operating officer now directly owns 104,108 shares of the company’s stock, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,270 shares of company stock worth $4,309,019 in the last quarter. Corporate insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the last quarter. 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 buying an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Vita Coco during the 4th quarter worth about $52,000. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco during the 4th quarter worth about $66,000. Finally, Quest Partners LLC boosted its stake in shares of 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 last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

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.