Alpha DNA Investment Management LLC Acquires New Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Alpha DNA Investment Management LLC acquired a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,618 shares of the company’s stock, valued at approximately $466,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Vita Coco in the 4th quarter valued at approximately $52,000. Venturi Wealth Management LLC purchased a new stake in shares of Vita Coco in the fourth quarter valued at approximately $66,000. Summit Investment Advisors Inc. grew its holdings in Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after acquiring an additional 347 shares during the period. Finally, Entropy Technologies LP acquired a new position in Vita Coco during the fourth quarter worth $220,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ira Liran sold 20,235 shares of the firm’s 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 sale, the director now owns 814,302 shares in the company, valued at $32,629,081.14. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the transaction, the chairman now owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock valued at $3,017,811 in the last ninety days. Insiders own 34.20% of the company’s stock.

Vita Coco Stock Up 2.6 %

Shares of NASDAQ:COCO opened at $31.69 on Friday. The company has a market capitalization of $1.81 billion, a P/E ratio of 32.01, a P/E/G ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32. The stock’s fifty day simple moving average is $33.56 and its 200-day simple moving average is $34.08.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price 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, Stephens restated an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.57.

Vita Coco 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.