The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by abrdn plc

abrdn plc decreased its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 633,332 shares of the company's stock after selling 213,343 shares during the quarter. abrdn plc owned approximately 1.12% of Vita Coco worth $23,376,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of COCO. Wasatch Advisors LP increased its holdings 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 valued at $67,972,000 after acquiring an additional 1,799,168 shares during 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. raised its position in shares of Vita Coco by 106.4% in the third 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 during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after buying an additional 200,940 shares during the last quarter. Finally, TT International Asset Management LTD boosted its holdings in shares of Vita Coco by 1,643.7% during the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company's stock worth $5,129,000 after buying an additional 170,797 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Stock Up 4.9 %

COCO stock opened at $39.38 on Tuesday. The Vita Coco Company, Inc. has a twelve month low of $19.86 and a twelve month high of $39.74. The company has a market cap of $2.23 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30. The business's 50-day simple moving average is $36.14 and its 200 day simple moving average is $31.50.

Insider Activity

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the transaction, the director now owns 853,729 shares in the company, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.07, for a total value of $175,350.00. Following the completion of the transaction, the chief executive officer now directly owns 437,152 shares of the company's stock, valued at approximately $15,330,920.64. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,100 shares of company stock worth $4,060,373. Company insiders own 34.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on COCO shares. Stephens downgraded 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 lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Craig Hallum raised their target price on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.