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

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $35.06, for a total value of $701,200.00. Following the completion of the transaction, the chairman now owns 1,689,049 shares in the company, valued at $59,218,057.94. This represents a 1.17 % decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $34.62 on Wednesday. The company has a market capitalization of $1.97 billion, a PE ratio of 34.97, a PEG ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 1-year low of $23.00 and a 1-year high of $40.32. The business has a fifty day moving average price of $36.22 and a 200-day moving average price of $33.54.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COCO shares. Wells Fargo & Company decreased their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Bank of America increased 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. The Goldman Sachs Group lifted 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. Finally, Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and an average price target of $35.14.

Institutional Investors Weigh In On Vita Coco

Several institutional investors and hedge funds have recently made changes to their positions in COCO. GAMMA Investing LLC boosted its position in shares of Vita Coco by 84.9% during the fourth 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 grew its position in Vita Coco by 91.5% during the fourth 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 period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Vita Coco in the 4th quarter worth $52,000. Venturi Wealth Management LLC purchased a new stake in Vita Coco in the fourth quarter worth about $66,000. Finally, Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after acquiring an additional 3,473 shares in 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.