The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban Sells 20,000 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $35.06, for a total transaction of $701,200.00. Following the completion of the transaction, the chairman now owns 1,689,049 shares in the company, valued at approximately $59,218,057.94. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $691,400.00.

Vita Coco Stock Down 1.8 %

Shares of COCO stock traded down $0.64 on Tuesday, reaching $34.62. The company had a trading volume of 327,894 shares, compared to its average volume of 549,259. The stock has a market capitalization of $1.97 billion, a PE ratio of 34.97, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The business’s 50-day moving average is $36.21 and its 200 day moving average is $33.48.

Analysts Set New Price Targets

COCO has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research note on Monday, January 27th. 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 research note on Friday, December 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after acquiring an additional 347 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 84.9% in the fourth 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 raised its holdings in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Vita Coco by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock valued at $824,000 after buying an additional 842 shares during the last quarter. Finally, Moran Wealth Management LLC raised 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 buying an additional 871 shares during the last quarter. 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.