Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells 20,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $35.06, for a total transaction of $701,200.00. Following the transaction, the chairman now owns 1,689,049 shares of the company’s stock, valued at approximately $59,218,057.94. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Michael Kirban also recently made the following trade(s):

• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Stock Down 1.8 %

Shares of COCO stock traded down $0.64 during trading on Tuesday, reaching $34.62. The company’s stock had a trading volume of 327,894 shares, compared to its average volume of 549,259. The business has a fifty day moving average price of $36.21 and a 200-day moving average price of $33.48. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32.

Institutional Trading of Vita Coco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 worth $29,000 after acquiring an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco during the fourth quarter worth $52,000. Venturi Wealth Management LLC bought a new stake in Vita Coco during the fourth quarter worth $66,000. Finally, Quest Partners LLC increased its holdings in shares of Vita Coco by 16,538.1% in 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 during the last quarter. 88.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COCO has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, January 27th. Bank of America upped their price target 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. Finally, The Goldman Sachs Group upped their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Three equities 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, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.14.

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.