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

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the business’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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 Stock Down 1.8 %

Shares of Vita Coco stock opened at $34.62 on Wednesday. The Vita Coco Company, Inc. has a 52 week low of $23.00 and a 52 week high of $40.32. The company has a 50 day moving average price of $36.22 and a 200 day moving average price of $33.54. The firm has a market capitalization of $1.97 billion, a P/E ratio of 34.97, a PEG ratio of 2.25 and a beta of 0.34.

Hedge Funds Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP lifted its holdings in shares of Vita Coco by 17.8% during the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock worth $104,414,000 after purchasing an additional 427,871 shares during the period. Vanguard Group Inc. increased its stake in shares of Vita Coco by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company’s stock worth $95,565,000 after purchasing an additional 11,712 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Vita Coco by 14.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company’s stock valued at $55,460,000 after acquiring an additional 185,692 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Vita Coco by 15.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company’s stock valued at $52,486,000 after purchasing an additional 193,420 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Vita Coco by 6.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company’s stock valued at $41,713,000 after buying an additional 64,011 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COCO shares. Wells Fargo & Company lowered their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research report on Monday, January 27th. The Goldman Sachs Group lifted their price objective on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Bank of America boosted their price objective on shares of 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

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.