Harvest Fund Management Co. Ltd Buys Shares of 12,377 The Vita Coco Company, Inc. (NASDAQ:COCO)

Harvest Fund Management Co. Ltd bought a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,377 shares of the company’s stock, valued at approximately $457,000.

Several other hedge funds have also recently added to or reduced their stakes in COCO. GAMMA Investing LLC raised its stake in Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco during the 4th quarter valued at $52,000. Venturi Wealth Management LLC bought a new stake in shares of Vita Coco in the 4th quarter worth $66,000. Quest Partners LLC raised its stake in shares of 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 buying an additional 3,473 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vita Coco by 25.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after buying an additional 1,434 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research note on Monday, January 27th. Wells Fargo & Company dropped their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note 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 research note on Thursday, February 27th. Finally, Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Insider Activity

In other news, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.07, for a total transaction of $810,816.45. Following the transaction, the director now owns 814,302 shares in the company, valued at approximately $32,629,081.14. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $152,355.20. Following the transaction, the chief operating officer now owns 104,108 shares in the company, valued at $3,914,460.80. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,410 shares of company stock worth $3,017,811. 34.20% of the stock is owned by corporate insiders.

Vita Coco Stock Down 0.2 %

Shares of NASDAQ COCO opened at $35.51 on Friday. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.25 and a beta of 0.34. The stock’s fifty day simple moving average is $36.31 and its 200 day simple moving average is $33.63.

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.