Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells 6,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 6,000 shares of Vita Coco stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the sale, the chairman now directly owns 1,663,049 shares in the company, valued at approximately $58,206,715. This represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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 transaction of $701,200.00.
• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $34.57, for a total value of $691,400.00.

Vita Coco Stock Performance

Vita Coco stock opened at $35.57 on Friday. The Vita Coco Company, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The firm’s fifty day moving average price is $36.27 and its 200-day moving average price is $33.56. The stock has a market cap of $2.03 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34.

Hedge Funds Weigh In On Vita Coco

Several institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. grew its position in Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after acquiring an additional 347 shares during the last quarter. GAMMA Investing LLC grew its position in 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% in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $824,000 after purchasing an additional 842 shares during the period. Finally, Moran Wealth Management LLC grew its holdings in shares of Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock worth $704,000 after purchasing an additional 871 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. The Goldman Sachs Group increased 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, February 27th. Wells Fargo & Company cut their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Bank of America boosted their target price 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, 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 report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.