Vita Coco (NASDAQ:COCO) Given New $39.00 Price Target at Wells Fargo & Company

Vita Coco (NASDAQ:COCO) had its price target trimmed by Wells Fargo & Company from $40.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group boosted their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research report on Monday, January 27th. Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Craig Hallum increased their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Stock Down 4.4 %

Shares of Vita Coco stock opened at $32.21 on Thursday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 2.25 and a beta of 0.30. The stock’s 50-day simple moving average is $36.75 and its 200-day simple moving average is $32.66. Vita Coco has a 52 week low of $23.00 and a 52 week high of $40.32.

Insider Buying and Selling at Vita Coco

In other news, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the transaction, the director now directly owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $35.54, for a total value of $177,700.00. Following the completion of the transaction, the chief executive officer now directly owns 392,152 shares in the company, valued at approximately $13,937,082.08. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,270 shares of company stock valued at $4,309,019 in the last quarter. 34.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds have recently made changes to their positions in the company. Barclays PLC raised its stake in Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after buying an additional 46,385 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Vita Coco by 143.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Raymond James & Associates acquired a new position in Vita Coco during the 3rd quarter valued at approximately $3,990,000. Woodson Capital Management LP purchased a new position in shares of Vita Coco in the third quarter worth $19,224,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after buying an additional 461,748 shares during the period. 88.49% of the stock is currently 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.