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

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible 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 Stock 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 stock has a 50 day moving average price of $36.22 and a 200-day moving average price of $33.54. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COCO shares. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a research report on Monday, January 27th. Wells Fargo & Company reduced their target price 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. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Institutional Trading of Vita Coco

Large investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its stake 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 buying an additional 347 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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 position in shares of Vita Coco by 91.5% during the 4th 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. increased its position in 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 period. Finally, Moran Wealth Management LLC raised its stake in 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 in the last quarter. 88.49% of the stock is currently owned by institutional investors.

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.