AlphaQuest LLC Purchases 24,888 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

AlphaQuest LLC lifted its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 712.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,382 shares of the company’s stock after purchasing an additional 24,888 shares during the period. AlphaQuest LLC owned 0.05% of Vita Coco worth $1,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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. purchased a new stake in shares of Vita Coco in the 4th quarter worth about $52,000. Venturi Wealth Management LLC purchased a new stake in shares of Vita Coco in the 4th quarter worth about $66,000. Quest Partners LLC lifted its position in shares of Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Vita Coco in the 4th quarter worth about $220,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $34.40 on Tuesday. The stock has a market capitalization of $1.96 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 52-week low of $23.00 and a 52-week high of $40.32. The company has a 50-day simple moving average of $36.27 and a two-hundred day simple moving average of $33.14.

Insiders Place Their Bets

In other Vita Coco news, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the transaction, the chief operating officer now directly owns 94,108 shares of the company’s stock, valued at approximately $3,076,390.52. The trade was a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $36.53, for a total transaction of $182,650.00. Following the completion of the transaction, the chief executive officer now directly owns 357,152 shares of the company’s stock, valued at $13,046,762.56. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,632 shares of company stock valued at $3,605,468. Insiders own 34.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms 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 stock a “buy” rating in a research report on Thursday, February 27th. Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. 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 research report on Monday, January 27th. Finally, Wells Fargo & Company lowered their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.