The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban Sells 20,000 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.06, for a total value of $701,200.00. Following the sale, the chairman now owns 1,689,049 shares of the company’s stock, valued at approximately $59,218,057.94. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michael Kirban also recently made the following trade(s):

• 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 Stock Performance

Shares of NASDAQ:COCO opened at $35.15 on Thursday. The stock’s 50-day moving average is $36.24 and its 200-day moving average is $33.55. The company has a market cap of $2.00 billion, a P/E ratio of 35.51, a P/E/G ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32.

Institutional Trading of Vita Coco

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of 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 last quarter. Coppell Advisory Solutions LLC increased its position in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in Vita Coco during the 4th quarter valued at $52,000. Venturi Wealth Management LLC bought a new stake in Vita Coco in the 4th quarter valued at $66,000. Finally, Quest Partners LLC grew its position in Vita Coco by 16,538.1% in the 3rd 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 own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of recent research reports. Stephens downgraded 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 report on Monday, January 27th. Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. The Goldman Sachs Group upped their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note 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 note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.14.

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.