Insider Buying: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Acquires $52,650.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCOGet Rating) Director Kenneth Sadowsky bought 5,000 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were acquired at an average price of $10.53 per share, with a total value of $52,650.00. Following the completion of the purchase, the director now directly owns 628,383 shares of the company’s stock, valued at $6,616,872.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kenneth Sadowsky also recently made the following trade(s):

  • On Friday, November 18th, Kenneth Sadowsky purchased 5,000 shares of Vita Coco stock. The stock was acquired at an average price of $10.50 per share, for a total transaction of $52,500.00.

Vita Coco Trading Up 9.0 %

Shares of NASDAQ COCO opened at $11.53 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.93 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $11.20 and its two-hundred day moving average price is $11.89. The Vita Coco Company, Inc. has a 52-week low of $7.39 and a 52-week high of $16.57. The stock has a market capitalization of $644.76 million and a P/E ratio of 88.70.

Institutional Investors Weigh In On Vita Coco

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in Vita Coco by 154.1% during the second quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock worth $29,000 after purchasing an additional 1,824 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Vita Coco in the 1st quarter valued at about $33,000. New York State Common Retirement Fund bought a new stake in shares of Vita Coco during the 1st quarter valued at about $41,000. JPMorgan Chase & Co. raised its stake in Vita Coco by 25.2% during the first quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock worth $47,000 after acquiring an additional 1,062 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Vita Coco by 681.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,135 shares of the company’s stock worth $58,000 after acquiring an additional 4,478 shares during the last quarter. 22.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Vita Coco from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th. Credit Suisse Group lifted their price target on shares of Vita Coco from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Vita Coco currently has an average rating of “Buy” and an average price target of $14.00.

About Vita Coco

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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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

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