61,042 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Bought by NewEdge Advisors LLC

NewEdge Advisors LLC bought a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 61,042 shares of the company's stock, valued at approximately $2,253,000. NewEdge Advisors LLC owned approximately 0.11% of Vita Coco at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans bought a new position in Vita Coco in the 4th quarter worth $10,715,000. Raymond James Financial Inc. bought a new position in shares of Vita Coco in the fourth quarter worth about $7,985,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Vita Coco during the fourth quarter worth about $7,609,000. Loomis Sayles & Co. L P raised its stake in Vita Coco by 15.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company's stock valued at $52,486,000 after purchasing an additional 193,420 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Vita Coco by 14.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock worth $55,460,000 after purchasing an additional 185,692 shares during the period. Institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 20,235 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $34.57, for a total transaction of $691,400.00. Following the transaction, the chairman now owns 2,006,229 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 79,358 shares of company stock worth $2,865,456. Company insiders own 34.20% of the company's stock.

Vita Coco Stock Up 0.3 %

COCO traded up $0.09 on Friday, reaching $30.82. 524,082 shares of the company traded hands, compared to its average volume of 597,200. The company has a market cap of $1.76 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a one year low of $23.40 and a one year high of $40.32. The firm has a fifty day simple moving average of $32.84 and a two-hundred day simple moving average of $34.16.

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.