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

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the transaction, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $35.06, for a total value of $701,200.00.

Vita Coco Stock Performance

NASDAQ:COCO opened at $35.15 on Thursday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The stock has a fifty day moving average price of $36.24 and a 200-day moving average price of $33.55.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently bought and sold shares of COCO. Wasatch Advisors LP increased its holdings in Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after buying an additional 1,799,168 shares during the period. Woodson Capital Management LP acquired a new position in Vita Coco during the third quarter valued at approximately $19,224,000. Victory Capital Management Inc. lifted its stake in Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after purchasing an additional 405,913 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in shares of Vita Coco by 77.3% in the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock valued at $31,544,000 after purchasing an additional 372,633 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

COCO has been the subject of a number of research reports. Bank of America lifted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research report on Monday, January 27th. Wells Fargo & Company dropped their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group upped their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.