The Vita Coco Company, Inc. (NASDAQ:COCO) Position Boosted by Pier Capital LLC

Pier Capital LLC lifted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,623 shares of the company’s stock after purchasing an additional 56,879 shares during the quarter. Pier Capital LLC’s holdings in Vita Coco were worth $7,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in COCO. Segall Bryant & Hamill LLC acquired a new position in Vita Coco in the 4th quarter valued at approximately $7,609,000. Summit Creek Advisors LLC grew its holdings in shares of Vita Coco by 0.3% during the 4th quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company’s stock valued at $14,837,000 after acquiring an additional 1,193 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Vita Coco by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company’s stock valued at $95,565,000 after acquiring an additional 11,712 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Vita Coco in the fourth quarter worth $399,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Vita Coco during the fourth quarter worth $1,291,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vita Coco 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 transaction, the chairman now owns 1,663,049 shares of the company’s stock, valued at $58,206,715. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Burth sold 4,052 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total transaction of $152,355.20. Following the sale, the chief operating officer now owns 104,108 shares of the company’s stock, valued at $3,914,460.80. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock valued at $3,017,811 over the last 90 days. 34.20% of the stock is currently owned by company insiders.

Vita Coco Stock Performance

COCO opened at $36.26 on Tuesday. The stock has a 50-day moving average of $36.36 and a 200-day moving average of $33.84. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32. The company has a market cap of $2.07 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Bank of America boosted their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research note on Monday, January 27th. Wells Fargo & Company cut their price objective 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. Finally, The Goldman Sachs Group lifted 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

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.