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

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the company’s stock in a transaction that occurred 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 directly owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value of $701,200.00.

Vita Coco Price Performance

NASDAQ:COCO opened at $34.62 on Wednesday. The company has a market capitalization of $1.97 billion, a P/E ratio of 34.97, a P/E/G ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32. The business has a fifty day simple moving average of $36.22 and a two-hundred day simple moving average of $33.54.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Stephens cut 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 boosted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group increased their price target on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.14.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its holdings in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after buying an additional 347 shares in the last quarter. GAMMA Investing LLC raised its position in Vita Coco by 84.9% during 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 in the last quarter. Coppell Advisory Solutions LLC boosted its stake in Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after buying an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Vita Coco by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock valued at $824,000 after purchasing an additional 842 shares during the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock worth $704,000 after buying an additional 871 shares during the period. Institutional investors own 88.49% of the company’s stock.

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.