The Vita Coco Company, Inc. (NASDAQ:COCO) Stake Lessened by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,403 shares of the company’s stock after selling 145,232 shares during the period. William Blair Investment Management LLC owned about 1.10% of Vita Coco worth $23,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC increased its stake in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after purchasing an additional 3,473 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Vita Coco during the third quarter valued at $1,145,000. Moran Wealth Management LLC increased its stake in Vita Coco by 43.5% during the third quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock valued at $515,000 after purchasing an additional 5,517 shares during the last quarter. Intech Investment Management LLC bought a new stake in Vita Coco during the third quarter valued at $256,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Vita Coco by 21.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company’s stock valued at $9,174,000 after purchasing an additional 57,622 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Burth sold 4,052 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total value of $152,355.20. Following the sale, the chief operating officer now directly owns 104,108 shares of the company’s stock, valued at $3,914,460.80. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,410 shares of company stock valued at $3,875,211. 34.20% of the stock is owned by corporate insiders.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $34.62 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.25 and a beta of 0.34. The business has a 50 day simple moving average of $36.22 and a 200 day simple moving average of $33.54. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32.

Analysts Set New Price Targets

COCO has been the subject of several recent research reports. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research note on Monday, January 27th. Wells Fargo & Company reduced their price target 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 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. Finally, The Goldman Sachs Group boosted their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Three 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Vita Coco 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.