Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Decreases By 8.2%

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 5,370,000 shares, a drop of 8.2% from the January 15th total of 5,850,000 shares. Approximately 13.9% of the company's stock are sold short. Based on an average daily volume of 475,000 shares, the short-interest ratio is currently 11.3 days.

Insider Buying and Selling at Vita Coco

In related news, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the sale, the director now owns 853,729 shares in the company, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin F. Roper sold 5,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $35.54, for a total transaction of $177,700.00. Following the completion of the sale, the chief executive officer now directly owns 392,152 shares of the company's stock, valued at approximately $13,937,082.08. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,270 shares of company stock valued at $4,666,569. Corporate insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its position in Vita Coco by 17.8% during the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock valued at $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Vanguard Group Inc. increased its position in Vita Coco by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company's stock worth $95,565,000 after acquiring an additional 11,712 shares during the period. Artisan Partners Limited Partnership increased its position in Vita Coco by 14.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company's stock worth $55,460,000 after acquiring an additional 185,692 shares during the period. Loomis Sayles & Co. L P increased its holdings in Vita Coco by 15.7% in 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 buying an additional 193,420 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in Vita Coco by 6.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock valued at $41,713,000 after buying an additional 64,011 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Up 0.2 %

Shares of Vita Coco stock traded up $0.08 during trading on Friday, hitting $37.58. The stock had a trading volume of 718,167 shares, compared to its average volume of 566,669. The stock has a 50 day simple moving average of $36.71 and a 200 day simple moving average of $32.30. The company has a market capitalization of $2.13 billion, a PE ratio of 37.96, a P/E/G ratio of 2.38 and a beta of 0.30. Vita Coco has a 1 year low of $20.64 and a 1 year high of $40.32.

Analyst Ratings Changes

COCO has been the topic of a number of recent analyst reports. Stephens downgraded shares of Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price target on the stock. in a research note on Monday, January 27th. Craig Hallum raised their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Bank of America lifted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price target on shares of Vita Coco from $33.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.83.

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.