AlphaQuest LLC Increases Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

AlphaQuest LLC raised its holdings in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 712.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,382 shares of the company's stock after buying an additional 24,888 shares during the period. AlphaQuest LLC owned about 0.05% of Vita Coco worth $1,048,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COCO. GAMMA Investing LLC boosted 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 valued at $29,000 after buying an additional 360 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in Vita Coco in the fourth quarter valued at $52,000. Venturi Wealth Management LLC purchased a new position in shares of Vita Coco during the fourth quarter worth about $66,000. Quest Partners LLC grew its holdings in shares of Vita Coco by 16,538.1% during the third 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 last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Vita Coco during the fourth quarter worth about $220,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $36.37, for a total value of $181,850.00. Following the completion of the transaction, the chief executive officer now owns 337,152 shares in the company, valued at $12,262,218.24. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.69, for a total transaction of $326,900.00. Following the completion of the sale, the chief operating officer now owns 94,108 shares of the company's stock, valued at $3,076,390.52. This trade represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,322 shares of company stock valued at $2,698,688 over the last ninety days. Corporate insiders own 34.20% of the company's stock.

Remove Ads

Vita Coco Price Performance

Shares of COCO stock traded down $0.37 during mid-day trading on Thursday, hitting $34.54. The stock had a trading volume of 447,102 shares, compared to its average volume of 556,776. The firm has a market cap of $1.97 billion, a PE ratio of 34.89, a PEG ratio of 2.25 and a beta of 0.34. The company's 50-day simple moving average is $36.18 and its 200-day simple moving average is $33.23. The Vita Coco Company, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $40.32.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COCO. The Goldman Sachs Group increased their price objective on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 27th. 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 note on Monday, January 27th. Bank of America lifted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company decreased their target price on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Vita Coco currently has a consensus rating of "Moderate Buy" and a consensus target price 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.