Jump Financial LLC Takes Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Jump Financial LLC acquired a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,827 shares of the company's stock, valued at approximately $695,000.

Several other institutional investors have also added to or reduced their stakes in the stock. XTX Topco Ltd lifted its position in shares of Vita Coco by 30.9% in the 4th quarter. XTX Topco Ltd now owns 16,065 shares of the company's stock worth $593,000 after purchasing an additional 3,790 shares during the period. Barclays PLC raised its stake in Vita Coco by 10.4% during the fourth quarter. Barclays PLC now owns 76,721 shares of the company's stock worth $2,832,000 after buying an additional 7,217 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after buying an additional 347 shares during the period. Townsquare Capital LLC bought a new stake in Vita Coco during the fourth quarter valued at $291,000. Finally, Raymond James Financial Inc. acquired a new stake in Vita Coco during the 4th quarter worth about $7,985,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on COCO. The Goldman Sachs Group upped their target price on Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Stephens reiterated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.57.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $31.29 on Wednesday. The stock has a market capitalization of $1.78 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 52 week low of $23.05 and a 52 week high of $40.32. The stock has a 50 day moving average price of $33.20 and a two-hundred day moving average price of $34.16.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the transaction, the chief operating officer now owns 104,108 shares of the company's stock, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the sale, the chairman now directly owns 2,006,229 shares of the company's stock, valued at $69,355,336.53. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,358 shares of company stock valued at $2,865,456. 34.20% of the stock is owned by company insiders.

Vita Coco 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.

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