10,800 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,800 shares of the company's stock, valued at approximately $399,000.

Other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Vita Coco during the third quarter valued at about $256,000. Charles Schwab Investment Management Inc. boosted its holdings in Vita Coco by 21.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 324,041 shares of the company's stock valued at $9,174,000 after acquiring an additional 57,622 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company's stock worth $199,000 after acquiring an additional 1,434 shares during the last quarter. Captrust Financial Advisors grew its position in Vita Coco by 7.2% during the 3rd quarter. Captrust Financial Advisors now owns 21,291 shares of the company's stock worth $603,000 after acquiring an additional 1,433 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Vita Coco by 41.4% in the third quarter. Stifel Financial Corp now owns 17,220 shares of the company's stock valued at $487,000 after purchasing an additional 5,041 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Buying and Selling

In other news, 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. The trade was a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Liran sold 20,235 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company's stock, valued at approximately $32,629,081.14. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,410 shares of company stock valued at $3,017,811 over the last ninety days. Company insiders own 34.20% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently commented on COCO shares. Wells Fargo & Company decreased their target price on shares of 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 upped their price objective on shares of Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Stephens reissued an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.57.

Vita Coco Stock Up 12.2 %

Shares of NASDAQ:COCO traded up $3.39 during trading on Wednesday, hitting $31.28. The stock had a trading volume of 1,030,584 shares, compared to its average volume of 590,005. The company has a market capitalization of $1.78 billion, a PE ratio of 31.60, a PEG ratio of 2.25 and a beta of 0.38. The firm's fifty day moving average is $34.49 and its 200 day moving average is $34.01. The Vita Coco Company, Inc. has a 12 month low of $23.00 and a 12 month high of $40.32.

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.