The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban Sells 6,000 Shares

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Chairman Michael Kirban sold 6,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. Following the completion of the transaction, the chairman now owns 1,663,049 shares of the company's stock, valued at $58,206,715. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Michael Kirban also recently made the following trade(s):

• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $35.06, for a total value of $701,200.00.
• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded up $0.75 during trading on Monday, reaching $36.26. 359,445 shares of the company's stock traded hands, compared to its average volume of 548,975. The company has a 50 day moving average of $36.31 and a 200-day moving average of $33.75. The stock has a market capitalization of $2.07 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 12 month low of $23.00 and a 12 month high of $40.32.

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Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock worth $29,000 after buying an additional 360 shares during the period. Coppell Advisory Solutions LLC raised its stake in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Vita Coco in the fourth quarter worth $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco during the fourth quarter valued at $66,000. Finally, Quest Partners LLC lifted its stake in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company's stock worth $99,000 after acquiring an additional 3,473 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COCO shares. Wells Fargo & Company reduced their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Stephens lowered Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price target on the stock. in a research report on Monday, January 27th. Finally, Bank of America lifted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.