Vita Coco (NASDAQ:COCO) Trading Down 5.9% – What’s Next?

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) dropped 5.9% on Wednesday . The stock traded as low as $33.98 and last traded at $33.37. Approximately 213,086 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 548,437 shares. The stock had previously closed at $35.45.

Analyst Ratings Changes

A number of research analysts have commented on COCO shares. Stephens lowered 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. Wells Fargo & Company decreased their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Bank of America raised their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Stock Down 11.0 %

The stock has a market cap of $1.80 billion, a P/E ratio of 31.98, a PEG ratio of 2.25 and a beta of 0.34. The stock has a fifty day simple moving average of $36.38 and a 200-day simple moving average of $33.91.

Insider Buying and Selling

In related news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at approximately $69,355,336.53. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the completion of the transaction, the director now directly owns 814,302 shares in the company, valued at approximately $32,629,081.14. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock valued at $3,017,811 in the last 90 days. 34.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. Coppell Advisory Solutions LLC boosted its position in shares of Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Vita Coco during the fourth quarter worth about $52,000. Venturi Wealth Management LLC acquired a new stake in Vita Coco in the 4th quarter valued at approximately $66,000. Finally, Quest Partners LLC raised its position in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Company 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.