The Goldman Sachs Group Forecasts Strong Price Appreciation for Vita Coco (NASDAQ:COCO) Stock

Vita Coco (NASDAQ:COCO - Free Report) had its target price increased by The Goldman Sachs Group from $34.00 to $38.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on COCO. Wells Fargo & Company boosted their price objective on Vita Coco from $33.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Stephens cut shares of Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a report on Monday, January 27th. Bank of America upped their price target 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, Craig Hallum raised their price objective 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. 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 an average rating of "Moderate Buy" and an average price target of $35.14.

Vita Coco Stock Performance

Shares of COCO stock traded up $0.34 during mid-day trading on Thursday, hitting $32.78. 663,160 shares of the stock were exchanged, compared to its average volume of 549,377. The stock's fifty day simple moving average is $36.61 and its two-hundred day simple moving average is $32.80. Vita Coco has a 12-month low of $23.00 and a 12-month high of $40.32. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 2.25 and a beta of 0.30.

Insiders Place Their Bets

In other Vita Coco news, COO Jonathan Burth sold 700 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.25, for a total transaction of $28,175.00. Following the transaction, the chief operating officer now owns 104,108 shares in the company, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $36.24, for a total value of $181,200.00. Following the completion of the sale, the chief executive officer now directly owns 382,152 shares of the company's stock, valued at $13,849,188.48. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,270 shares of company stock worth $3,774,419. 34.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. GAMMA Investing LLC boosted its position in shares of Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after buying an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Vita Coco during the fourth quarter worth about $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco during the fourth quarter worth about $66,000. Finally, Quest Partners LLC increased its holdings in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after buying an additional 3,473 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

About Vita Coco

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.