Wells Fargo & Company Issues Pessimistic Forecast for Vita Coco (NASDAQ:COCO) Stock Price

Vita Coco (NASDAQ:COCO) had its price target lowered by equities research analysts at Wells Fargo & Company from $40.00 to $39.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 20.22% from the company’s current price.

Several other equities analysts also recently weighed in on COCO. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research report on Monday, January 27th. Craig Hallum lifted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Bank of America upped their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group raised their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday. 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, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

Vita Coco Trading Up 0.7 %

Shares of NASDAQ COCO opened at $32.44 on Thursday. The stock has a market capitalization of $1.84 billion, a PE ratio of 32.77, a PEG ratio of 2.25 and a beta of 0.30. Vita Coco has a twelve month low of $23.00 and a twelve month high of $40.32. The stock has a fifty day simple moving average of $36.68 and a 200-day simple moving average of $32.66.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $35.69, for a total value of $356,900.00. Following the sale, the chief operating officer now directly owns 106,849 shares in the company, valued at approximately $3,813,440.81. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Liran sold 1,723 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total transaction of $68,954.46. Following the transaction, the director now owns 812,579 shares of the company’s stock, valued at approximately $32,519,411.58. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,270 shares of company stock worth $4,309,019 over the last 90 days. 34.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently made changes to their positions in COCO. Summit Investment Advisors Inc. raised its holdings in Vita Coco by 9.2% during the fourth 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 grew its position 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 buying an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 acquiring an additional 842 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its position in Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock valued at $704,000 after acquiring an additional 871 shares during the last quarter. Institutional investors and hedge funds 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.