Vita Coco (NASDAQ:COCO) Shares Up 3% – Here’s Why

The Vita Coco Company, Inc. (NASDAQ:COCO) shares traded up 3% during mid-day trading on Monday . The company traded as high as $30.65 and last traded at $30.74. 270,050 shares changed hands during trading, a decline of 53% from the average session volume of 570,459 shares. The stock had previously closed at $29.85.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COCO shares. Bank of America upped 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. Wells Fargo & Company lowered their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group raised their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Stephens restated an “equal weight” rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average price target of $34.57.

Vita Coco Stock Up 0.5 %

The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.25 and a beta of 0.34. The firm has a fifty day moving average price of $35.89 and a 200-day moving average price of $34.04.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the transaction, the chairman now owns 2,006,229 shares in the company, valued at $69,355,336.53. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jonathan Burth sold 10,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the sale, the chief operating officer now owns 94,108 shares of the company’s stock, valued at approximately $3,076,390.52. The trade was a 9.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock worth $3,017,811 in the last 90 days. 34.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of COCO. Summit Investment Advisors Inc. increased its position in Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after purchasing an additional 347 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares during the period. Coppell Advisory Solutions LLC lifted its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Vita Coco by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock worth $824,000 after purchasing an additional 842 shares during the period. Finally, Moran Wealth Management LLC increased its holdings in Vita Coco by 4.8% in the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock valued at $704,000 after purchasing an additional 871 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.