Vita Coco (NASDAQ:COCO) Trading Up 3% – What’s Next?

The Vita Coco Company, Inc. (NASDAQ:COCO) shot up 3% on Monday . The stock traded as high as $30.65 and last traded at $30.74. 270,050 shares were traded during trading, a decline of 53% from the average session volume of 570,459 shares. The stock had previously closed at $29.85.

Analysts Set New Price Targets

COCO has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group upped their price target 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. Bank of America lifted their price objective 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 restated an “equal weight” rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.57.

Vita Coco Stock Performance

The company has a market capitalization of $1.75 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.25 and a beta of 0.34. The firm’s fifty day moving average is $36.12 and its 200 day moving average is $34.00.

Insider Activity

In other news, Chairman Michael Kirban sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the sale, the chairman now directly owns 1,663,049 shares of the company’s stock, valued at approximately $58,206,715. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan Burth sold 700 shares of the firm’s stock in a transaction dated 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 in the company, valued at $4,190,347. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,410 shares of company stock valued at $3,017,811. 34.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently modified their holdings of COCO. GAMMA Investing LLC grew its stake in Vita Coco by 84.9% in the fourth 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 lifted its holdings in shares of Vita Coco by 91.5% in 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 period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco during the fourth quarter valued at $66,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after acquiring an additional 347 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.