DRW Securities LLC Takes $366,000 Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

DRW Securities LLC bought a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,931 shares of the company’s stock, valued at approximately $366,000.

A number of other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in shares of Vita Coco by 143.0% during the 3rd 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 during the last quarter. Raymond James & Associates purchased a new stake in Vita Coco during the 3rd quarter worth about $3,990,000. American Century Companies Inc. boosted its position in shares of Vita Coco by 42.2% during the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock worth $2,232,000 after acquiring an additional 23,761 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after acquiring an additional 461,748 shares during the last quarter. Finally, Pier Capital LLC raised its position in shares of Vita Coco by 37.7% during the 2nd quarter. Pier Capital LLC now owns 292,073 shares of the company’s stock worth $8,134,000 after acquiring an additional 79,957 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vita Coco news, Director Ira Liran sold 27,176 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the completion of the sale, the director now directly owns 883,729 shares of the company’s stock, valued at approximately $31,849,593.16. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Burth sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the completion of the transaction, the chief operating officer now directly owns 123,300 shares in the company, valued at approximately $3,703,932. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,313 shares of company stock worth $1,813,768 in the last 90 days. Company insiders own 34.20% of the company’s stock.

Vita Coco Stock Down 1.2 %

Shares of NASDAQ COCO opened at $35.91 on Wednesday. The business has a 50-day moving average price of $31.19 and a 200 day moving average price of $28.38. The stock has a market cap of $2.04 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.22. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $37.05.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. Sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upped their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Vita Coco 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.