Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells 6,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 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 position. The transaction 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 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 transaction of $701,200.00.
• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Trading Up 1.2 %

NASDAQ COCO traded up $0.42 on Thursday, reaching $35.57. The company’s stock had a trading volume of 408,643 shares, compared to its average volume of 547,887. The firm has a market cap 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 business has a 50-day moving average price of $36.24 and a 200 day moving average price of $33.55. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COCO. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company decreased their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research report on Monday, January 27th. Finally, Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three equities 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 currently has an average rating of “Moderate Buy” and an average price target of $35.14.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Wasatch Advisors LP boosted its position in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after buying an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new position in Vita Coco in the third quarter valued at about $19,224,000. Bank of America Corp DE boosted its position in Vita Coco by 382.2% in the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after buying an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Vita Coco by 77.3% in the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock valued at $31,544,000 after buying an additional 372,633 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in Vita Coco in the fourth quarter valued at about $10,715,000. 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.