The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells $691,400.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the sale, the chairman now owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. This trade represents a 0.99 % 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 link.

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

• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $35.06, for a total value of $701,200.00.

Vita Coco Trading Down 1.8 %

Shares of COCO stock traded down $0.64 during mid-day trading on Tuesday, reaching $34.62. The stock had a trading volume of 327,894 shares, compared to its average volume of 549,259. The business’s fifty day moving average is $36.21 and its 200-day moving average is $33.48. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 1-year low of $23.00 and a 1-year high of $40.32.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COCO. The Goldman Sachs Group upped their price objective on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. 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. Finally, Bank of America increased their price target 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Vita Coco by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company’s stock valued at $6,111,000 after purchasing an additional 2,587 shares during the period. Woodson Capital Management LP grew its holdings in Vita Coco by 4.5% during the fourth quarter. Woodson Capital Management LP now owns 709,615 shares of the company’s stock worth $26,192,000 after acquiring an additional 30,553 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Vita Coco during the fourth quarter worth about $323,000. Millennium Management LLC grew its holdings in Vita Coco by 24.9% during the fourth quarter. Millennium Management LLC now owns 25,515 shares of the company’s stock worth $942,000 after acquiring an additional 5,087 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Vita Coco by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock worth $824,000 after acquiring an additional 842 shares during the period. 88.49% of the stock is 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.