Vita Coco (NASDAQ:COCO) Given New $38.00 Price Target at The Goldman Sachs Group

Vita Coco (NASDAQ:COCO) had its price target increased by The Goldman Sachs Group from $34.00 to $38.00 in a research report sent to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms also recently commented on COCO. Bank of America lifted 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. Stephens downgraded Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research note on Monday, January 27th. Craig Hallum raised their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upped their target price on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Vita Coco Trading Down 4.4 %

Shares of COCO opened at $32.21 on Thursday. The firm has a market cap of $1.83 billion, a PE ratio of 32.54, a P/E/G ratio of 2.25 and a beta of 0.30. The stock has a fifty day moving average price of $36.75 and a 200-day moving average price of $32.66. Vita Coco has a 12 month low of $23.00 and a 12 month high of $40.32.

Insider Activity at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $36.24, for a total value of $181,200.00. Following the completion of the transaction, the chief executive officer now owns 382,152 shares of the company’s stock, valued at approximately $13,849,188.48. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $35.69, for a total transaction of $356,900.00. Following the completion of the transaction, the chief operating officer now owns 106,849 shares of the company’s stock, valued at approximately $3,813,440.81. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,270 shares of company stock worth $4,309,019. 34.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. Coppell Advisory Solutions LLC grew its stake in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Vita Coco in the 4th quarter worth $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco during the fourth quarter worth $66,000. Finally, Quest Partners LLC lifted its holdings in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after purchasing an additional 3,473 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.