Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells $691,400.00 in 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 stock was sold at an average price of $34.57, for a total value 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. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, March 19th, Michael Kirban sold 6,000 shares of Vita Coco stock. The shares were sold at an average price of $35.00, for a total value of $210,000.00.
• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $35.06, for a total transaction of $701,200.00.

Vita Coco Trading Up 1.2 %

Shares of COCO stock opened at $35.57 on Friday. The stock has a market cap of $2.03 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32. The stock has a 50 day simple moving average of $36.27 and a 200 day simple moving average of $33.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COCO. Wells Fargo & Company decreased their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group upped their target price on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Bank of America lifted their price target on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.14.

Institutional Trading of Vita Coco

A number of institutional investors have recently modified their holdings of COCO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Vita Coco by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company’s stock valued at $6,111,000 after purchasing an additional 2,587 shares in the last quarter. Woodson Capital Management LP increased its holdings in Vita Coco by 4.5% in the 4th quarter. Woodson Capital Management LP now owns 709,615 shares of the company’s stock valued at $26,192,000 after buying an additional 30,553 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Vita Coco in the 4th quarter valued at approximately $323,000. Millennium Management LLC raised its position in shares of Vita Coco by 24.9% in the 4th quarter. Millennium Management LLC now owns 25,515 shares of the company’s stock valued at $942,000 after buying an additional 5,087 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 worth $824,000 after acquiring an additional 842 shares during the period. 88.49% of the stock is currently owned by institutional investors.

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.