William Blair Investment Management LLC Sells 145,232 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

William Blair Investment Management LLC lowered its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 623,403 shares of the company's stock after selling 145,232 shares during the quarter. William Blair Investment Management LLC owned approximately 1.10% of Vita Coco worth $23,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Vita Coco by 200.6% in the third quarter. Barclays PLC now owns 69,504 shares of the company's stock worth $1,969,000 after acquiring an additional 46,385 shares during the last quarter. Woodson Capital Management LP acquired a new position in shares of Vita Coco in the third quarter valued at approximately $19,224,000. Lord Abbett & CO. LLC increased its stake in shares of Vita Coco by 21.1% in the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company's stock valued at $13,034,000 after buying an additional 80,128 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in shares of Vita Coco in the fourth quarter valued at approximately $790,000. Finally, AlphaQuest LLC increased its stake in shares of Vita Coco by 712.3% in the fourth quarter. AlphaQuest LLC now owns 28,382 shares of the company's stock valued at $1,048,000 after buying an additional 24,888 shares during the period. Institutional investors own 88.49% of the company's stock.

Insider Transactions at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at $4,190,347. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Liran sold 20,235 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now owns 814,302 shares in the company, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,410 shares of company stock valued at $3,017,811 in the last quarter. 34.20% of the stock is currently owned by company insiders.

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Vita Coco Trading Down 0.2 %

NASDAQ:COCO traded down $0.06 on Friday, reaching $35.51. 697,142 shares of the stock traded hands, compared to its average volume of 548,984. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The company's 50 day moving average is $36.31 and its 200-day moving average is $33.63. 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

Several research analysts have recently issued reports on COCO shares. Bank of America upped their price objective on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. 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. Stephens downgraded Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price objective for the company. in a research note on Monday, January 27th. Finally, The Goldman Sachs Group increased their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Vita Coco currently has a consensus rating of "Moderate Buy" and an average target price of $35.14.

Vita Coco 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.