Alpha DNA Investment Management LLC Invests $466,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

Alpha DNA Investment Management LLC bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,618 shares of the company’s stock, valued at approximately $466,000.

A number of other institutional investors have also recently added to or reduced their stakes in COCO. GAMMA Investing LLC raised its holdings in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Vita Coco during the 4th quarter worth approximately $52,000. Venturi Wealth Management LLC purchased a new position in Vita Coco in the fourth quarter valued at approximately $66,000. Summit Investment Advisors Inc. lifted its position in Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after buying an additional 347 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Vita Coco during the fourth quarter worth approximately $220,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jonathan Burth sold 4,052 shares of Vita Coco stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total value of $152,355.20. Following the completion of the transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at approximately $3,914,460.80. This trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Liran sold 20,235 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the sale, the director now directly owns 814,302 shares of the company’s stock, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock worth $3,017,811 in the last three months. 34.20% of the stock is owned by insiders.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $31.69 on Friday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32. The stock’s 50-day simple moving average is $33.56 and its 200-day simple moving average is $34.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COCO. The Goldman Sachs Group raised 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. Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $34.57.

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.