Harbor Capital Advisors Inc. Sells 179,583 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Harbor Capital Advisors Inc. lessened its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 52.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,923 shares of the company's stock after selling 179,583 shares during the period. Harbor Capital Advisors Inc. owned about 0.29% of Vita Coco worth $5,977,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of COCO. GAMMA Investing LLC increased its stake in shares of Vita Coco by 84.9% during 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 last quarter. Quest Partners LLC increased its position in 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 buying an additional 3,473 shares during the last quarter. ProShare Advisors LLC bought a new stake in Vita Coco in the second quarter valued at approximately $141,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vita Coco by 25.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company's stock valued at $199,000 after buying an additional 1,434 shares during the last quarter. Finally, LVW Advisors LLC bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $209,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on COCO. Craig Hallum raised their price target on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Bank of America lifted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.14.

Insider Transactions at Vita Coco

In other Vita Coco news, CFO Corey Baker sold 2,000 shares of Vita Coco stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total value of $74,560.00. Following the transaction, the chief financial officer now owns 44,346 shares in the company, valued at $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the transaction, the director now directly owns 853,729 shares of the company's stock, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,929 shares of company stock valued at $5,324,683. Company insiders own 34.20% of the company's stock.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded down $0.40 during midday trading on Friday, reaching $33.58. The company's stock had a trading volume of 486,080 shares, compared to its average volume of 596,697. The company has a market cap of $1.91 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.42 and a beta of 0.31. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The business's 50 day moving average price is $35.63 and its two-hundred day moving average price is $30.19.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to analysts' expectations of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. Vita Coco's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.26 earnings per share. Sell-side analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.