Skandinaviska Enskilda Banken AB publ Sells 32,400 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 44.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,500 shares of the company's stock after selling 32,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Vita Coco worth $1,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wasatch Advisors LP grew its position in shares of Vita Coco by 299.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock worth $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new position in Vita Coco during the third quarter valued at approximately $19,224,000. Victory Capital Management Inc. boosted its holdings in shares of Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Vita Coco in the 4th quarter valued at $7,985,000. Finally, TT International Asset Management LTD lifted its holdings in shares of Vita Coco by 1,643.7% in the third quarter. TT International Asset Management LTD now owns 181,188 shares of the company's stock worth $5,129,000 after acquiring an additional 170,797 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, COO Jonathan Burth sold 4,052 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total transaction of $152,355.20. Following the transaction, the chief operating officer now owns 104,108 shares of the company's stock, valued at $3,914,460.80. This represents a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael Kirban sold 20,000 shares of the company'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 transaction, the chairman now directly owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,410 shares of company stock valued at $3,017,811 in the last ninety days. 34.20% of the stock is owned by company insiders.

Vita Coco Trading Down 0.2 %

COCO stock traded down $0.06 during midday trading on Friday, hitting $35.51. The stock had a trading volume of 697,142 shares, compared to its average volume of 548,199. The firm has a market cap of $2.02 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The business has a fifty day moving average price of $36.27 and a two-hundred day moving average price of $33.56. The Vita Coco Company, Inc. has a 1-year low of $23.00 and a 1-year high of $40.32.

Analysts Set New Price Targets

A number of research analysts have recently commented on COCO shares. Stephens cut Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price target for the company. in a research note on Monday, January 27th. Wells Fargo & Company lowered their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.14.

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.