Oak Ridge Investments LLC Sells 2,659 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Oak Ridge Investments LLC decreased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,723 shares of the company’s stock after selling 2,659 shares during the quarter. Oak Ridge Investments LLC owned approximately 0.18% of Vita Coco worth $3,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in COCO. Wasatch Advisors LP lifted its stake in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after acquiring an additional 1,799,168 shares during the period. Woodson Capital Management LP purchased a new stake in shares of Vita Coco in the 3rd quarter worth approximately $19,224,000. Victory Capital Management Inc. boosted its stake in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Vita Coco during the second quarter valued at approximately $9,859,000. Finally, Harbor Capital Advisors Inc. raised its stake in Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after buying an additional 200,940 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COCO. Craig Hallum increased their target price on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.14.

Vita Coco Stock Performance

Shares of COCO stock opened at $34.60 on Friday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.02 and a beta of 0.31. The stock’s 50-day simple moving average is $35.56 and its 200-day simple moving average is $30.43. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.88.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the prior year, the business posted $0.26 EPS. Vita Coco’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ira Liran sold 30,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the sale, the director now directly owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This represents a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Burth sold 1,400 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $30.04, for a total transaction of $42,056.00. Following the transaction, the chief operating officer now directly owns 121,900 shares of the company’s stock, valued at approximately $3,661,876. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,529 shares of company stock worth $5,312,683 in the last 90 days. Insiders own 34.20% of the company’s stock.

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.