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

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

A number of other equities analysts have also recently weighed in on COCO. Craig Hallum increased their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research note on Monday, January 27th. Finally, Bank of America lifted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and a consensus price target of $35.14.

Vita Coco Price Performance

NASDAQ COCO opened at $32.21 on Thursday. The stock has a market capitalization of $1.83 billion, a P/E ratio of 32.54, a PEG ratio of 2.25 and a beta of 0.30. The firm’s 50-day moving average is $36.75 and its two-hundred day moving average is $32.66. Vita Coco has a 12 month low of $23.00 and a 12 month high of $40.32.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now owns 853,729 shares in the company, valued at approximately $30,375,677.82. This represents a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Corey Baker sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total value of $74,560.00. Following the sale, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,653,218.88. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 116,270 shares of company stock valued at $4,309,019. Insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COCO. Raymond James & Associates purchased a new position in shares of Vita Coco in the 3rd quarter valued at about $3,990,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Vita Coco by 18.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company’s stock worth $1,310,000 after acquiring an additional 7,173 shares in the last quarter. US Bancorp DE increased its stake in Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock valued at $424,000 after purchasing an additional 1,178 shares in the last quarter. Conestoga Capital Advisors LLC acquired a new position in Vita Coco during the third quarter worth $1,010,000. Finally, Harbor Capital Advisors Inc. boosted its position in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after purchasing an additional 200,940 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.