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

Vita Coco (NASDAQ:COCO) had its price target cut by Wells Fargo & Company from $40.00 to $39.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

COCO has been the topic of a number of other reports. Craig Hallum upped their target price on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. 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 report on Monday, January 27th. 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. Finally, Bank of America lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Vita Coco Stock Performance

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

Insider Activity

In related news, CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $36.24, for a total transaction of $181,200.00. Following the completion of the sale, the chief executive officer now owns 382,152 shares in the company, valued at approximately $13,849,188.48. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $35.69, for a total value of $356,900.00. Following the completion of the transaction, the chief operating officer now directly owns 106,849 shares in the company, valued at $3,813,440.81. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,270 shares of company stock valued at $4,309,019 over the last ninety days. 34.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC lifted 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 valued at $47,000 after purchasing an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco during the fourth quarter valued at about $52,000. Venturi Wealth Management LLC purchased a new stake in Vita Coco in the fourth quarter worth about $66,000. Finally, Quest Partners LLC raised its stake in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.