DnB Asset Management AS Cuts Stock Position in Celsius Holdings, Inc. (NASDAQ:CELH)

DnB Asset Management AS cut its position in Celsius Holdings, Inc. (NASDAQ:CELH - Free Report) by 62.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,411 shares of the company's stock after selling 22,602 shares during the period. DnB Asset Management AS's holdings in Celsius were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Contrarius Group Holdings Ltd purchased a new stake in shares of Celsius during the fourth quarter valued at $75,535,000. Norges Bank purchased a new stake in shares of Celsius during the 4th quarter valued at about $72,579,000. Raymond James Financial Inc. bought a new stake in shares of Celsius in the fourth quarter worth approximately $61,160,000. SG Americas Securities LLC raised its holdings in shares of Celsius by 10,320.0% during the fourth quarter. SG Americas Securities LLC now owns 1,932,813 shares of the company's stock valued at $50,910,000 after purchasing an additional 1,914,264 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Celsius by 993.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 1,180,904 shares of the company's stock valued at $37,033,000 after purchasing an additional 1,072,859 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Joyce Russell sold 4,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $28.47, for a total transaction of $113,880.00. Following the completion of the transaction, the director now owns 19,106 shares in the company, valued at approximately $543,947.82. This represents a 17.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul H. Storey sold 10,188 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $25.77, for a total transaction of $262,544.76. Following the transaction, the insider now directly owns 45,297 shares of the company's stock, valued at $1,167,303.69. The trade was a 18.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating and issued a $42.00 target price on shares of Celsius in a research report on Thursday, December 26th. LADENBURG THALM/SH SH cut their price objective on Celsius from $62.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Piper Sandler lowered their target price on Celsius from $47.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. TD Cowen cut Celsius from a "buy" rating to a "hold" rating and dropped their target price for the stock from $40.00 to $29.00 in a research report on Wednesday, January 22nd. Finally, UBS Group reduced their price target on shares of Celsius from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.00.

Celsius Trading Down 0.2 %

Shares of CELH traded down $0.08 during trading hours on Monday, reaching $35.46. 10,824,271 shares of the stock traded hands, compared to its average volume of 7,616,741. Celsius Holdings, Inc. has a 52-week low of $21.10 and a 52-week high of $98.85. The company has a market cap of $8.34 billion, a P/E ratio of 80.59, a price-to-earnings-growth ratio of 2.90 and a beta of 1.58. The company's 50-day moving average price is $28.05 and its two-hundred day moving average price is $28.86.

Celsius (NASDAQ:CELH - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. The firm had revenue of $332.20 million during the quarter, compared to analyst estimates of $326.07 million. Celsius had a return on equity of 51.89% and a net margin of 10.70%. On average, research analysts forecast that Celsius Holdings, Inc. will post 0.89 EPS for the current year.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.