Skandinaviska Enskilda Banken AB publ Sells 32,400 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Skandinaviska Enskilda Banken AB publ trimmed its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 44.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,500 shares of the company’s stock after selling 32,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.07% of Vita Coco worth $1,473,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of COCO. Victory Capital Management Inc. increased its holdings in Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Quest Partners LLC increased its stake in shares of Vita Coco by 16,538.1% in the third 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 period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Vita Coco in the 3rd quarter valued at approximately $1,145,000. Moran Wealth Management LLC boosted its position in Vita Coco by 43.5% during the 3rd quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock worth $515,000 after buying an additional 5,517 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Vita Coco during the 3rd quarter worth approximately $256,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a report on Monday, January 27th. Wells Fargo & Company reduced their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three investment 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 stock has an average rating of “Moderate Buy” and an average price target of $35.14.

Vita Coco Trading Up 1.7 %

Shares of Vita Coco stock opened at $35.26 on Tuesday. The business has a 50-day moving average price of $36.21 and a two-hundred day moving average price of $33.48. The Vita Coco Company, Inc. has a 1-year low of $23.00 and a 1-year high of $40.32. The company has a market cap of $2.01 billion, a P/E ratio of 35.62, a PEG ratio of 2.25 and a beta of 0.34.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the 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 transaction, the director now directly owns 853,729 shares in the company, valued at approximately $30,375,677.82. This represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total transaction of $152,355.20. Following the completion of the sale, the chief operating officer now owns 104,108 shares of the company’s stock, valued at $3,914,460.80. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,410 shares of company stock worth $2,482,611 in the last 90 days. Corporate insiders own 34.20% of the company’s stock.

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.