The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban Sells 6,000 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares of the company’s stock, valued at approximately $58,206,715. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Michael Kirban also recently made the following trade(s):

• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $35.06, for a total transaction of $701,200.00.
• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were 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 $35.51 on Friday. The firm has a fifty day moving average price of $36.31 and a two-hundred day moving average price of $33.69. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.25 and a beta of 0.34.

Institutional Trading of Vita Coco

A number of hedge funds have recently made changes to their positions in COCO. GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $66,000. Finally, Quest Partners LLC lifted its holdings in shares of Vita Coco by 16,538.1% during 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 during the last quarter. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COCO. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a research note on Monday, January 27th. Bank of America lifted their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Three equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.14.

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.