The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 143.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341,506 shares of the company's stock after acquiring an additional 200,940 shares during the quarter. Harbor Capital Advisors Inc. owned 0.60% of Vita Coco worth $9,668,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. nVerses Capital LLC grew its position in Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock valued at $72,000 after buying an additional 1,900 shares during the period. CWM LLC grew its position in shares of Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock valued at $76,000 after acquiring an additional 787 shares during the period. PNC Financial Services Group Inc. raised its holdings in Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company's stock worth $89,000 after purchasing an additional 3,210 shares during the period. Ameritas Investment Partners Inc. boosted its position in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company's stock worth $92,000 after purchasing an additional 919 shares in the last quarter. Finally, Comerica Bank boosted its position in Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after purchasing an additional 3,675 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Stock Up 8.0 %

NASDAQ:COCO traded up $2.36 during trading hours on Friday, reaching $31.97. 1,211,184 shares of the stock were exchanged, compared to its average volume of 416,596. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $32.98. The business has a 50-day moving average of $27.98 and a two-hundred day moving average of $27.15. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.46 and a beta of 0.22.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.26 EPS. On average, research analysts forecast that The Vita Coco Company, Inc. will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the transaction, the chief operating officer now owns 124,605 shares in the company, valued at $3,739,396.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 4,949 shares of company stock valued at $148,585 in the last ninety days. Company insiders own 34.20% of the company's stock.

Wall Street Analyst Weigh In

COCO has been the subject of several research analyst reports. Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday. Bank of America raised their price target on shares of Vita Coco from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, July 10th. Wells Fargo & Company boosted their price target on shares of Vita Coco from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 10th. Piper Sandler lowered Vita Coco from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $29.00 to $28.00 in a research report on Friday, July 12th. Finally, Jefferies Financial Group dropped their target price on Vita Coco from $35.00 to $31.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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.