Champlain Investment Partners LLC Sells 285,246 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Champlain Investment Partners LLC lowered its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 838,404 shares of the company's stock after selling 285,246 shares during the quarter. Champlain Investment Partners LLC owned approximately 1.48% of Vita Coco worth $30,945,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COCO. Summit Investment Advisors Inc. increased its stake in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after buying an additional 347 shares during the period. GAMMA Investing LLC raised its stake in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the last quarter. Moran Wealth Management LLC boosted its stake in Vita Coco by 4.8% in the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock worth $704,000 after purchasing an additional 871 shares in the last quarter. West Coast Financial LLC raised its holdings in Vita Coco by 1.2% in the 4th quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock worth $3,390,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its position in Vita Coco by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company's stock worth $14,837,000 after buying an additional 1,193 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Stephens reiterated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group boosted 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.57.

Insider Activity

In related news, Director Ira Liran sold 20,235 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the sale, the director now owns 814,302 shares of the company's stock, valued at approximately $32,629,081.14. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Burth sold 700 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the transaction, the chief operating officer now owns 104,108 shares of the company's stock, valued at approximately $4,190,347. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is currently owned by company insiders.

Vita Coco Price Performance

Shares of COCO stock traded down $0.50 during trading on Wednesday, reaching $30.79. The company's stock had a trading volume of 337,999 shares, compared to its average volume of 594,721. The stock's 50-day moving average price is $33.20 and its 200 day moving average price is $34.16. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1-year low of $23.05 and a 1-year high of $40.32.

About Vita Coco

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.