12,377 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,377 shares of the company's stock, valued at approximately $457,000.

A number of other hedge funds have also bought and sold shares of COCO. Wasatch Advisors LP increased its holdings in shares of Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock valued at $67,972,000 after acquiring an additional 1,799,168 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company's stock worth $29,494,000 after buying an additional 101,823 shares during the last quarter. State Street Corp boosted its holdings in shares of Vita Coco by 4.7% in the 3rd quarter. State Street Corp now owns 876,774 shares of the company's stock valued at $24,821,000 after buying an additional 39,431 shares during the period. Woodson Capital Management LP bought a new position in shares of Vita Coco during the third quarter valued at approximately $19,224,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Vita Coco by 21.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company's stock worth $13,034,000 after purchasing an additional 80,128 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COCO. Stephens lowered Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a research report on Monday, January 27th. Wells Fargo & Company cut their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group upped their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Bank of America raised their price target 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and an average target price of $35.14.

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Insiders Place Their Bets

In other news, Chairman Michael Kirban sold 6,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the completion of the sale, the chairman now owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the transaction, the director now directly owns 814,302 shares in the company, valued at approximately $32,629,081.14. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock worth $3,017,811 over the last ninety days. Company insiders own 34.20% of the company's stock.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded down $3.90 during trading on Wednesday, reaching $31.55. The company had a trading volume of 2,932,701 shares, compared to its average volume of 558,717. The firm's fifty day moving average is $36.38 and its 200 day moving average is $33.91. The firm has a market capitalization of $1.80 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a twelve month low of $23.00 and a twelve month 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.