The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by PDT Partners LLC

PDT Partners LLC lessened its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 64.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,238 shares of the company's stock after selling 28,954 shares during the quarter. PDT Partners LLC's holdings in Vita Coco were worth $460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock worth $9,668,000 after purchasing an additional 200,940 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Vita Coco during the 3rd quarter valued at about $3,990,000. Woodson Capital Management LP acquired a new position in shares of Vita Coco during the 3rd quarter valued at about $19,224,000. American Century Companies Inc. boosted its position in shares of Vita Coco by 42.2% during the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company's stock valued at $2,232,000 after acquiring an additional 23,761 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock valued at $25,358,000 after acquiring an additional 461,748 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price target on shares of Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Vita Coco has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Insiders Place Their Bets

In other news, COO Jonathan Burth sold 2,244 shares of the firm's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.01, for a total value of $67,342.44. Following the completion of the transaction, the chief operating officer now owns 124,605 shares in the company, valued at $3,739,396.05. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira Liran sold 27,176 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the transaction, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,313 shares of company stock worth $2,705,918. 34.20% of the stock is owned by corporate insiders.

Vita Coco Trading Up 2.4 %

Shares of Vita Coco stock traded up $0.87 during trading hours on Wednesday, hitting $36.62. 634,454 shares of the company were exchanged, compared to its average volume of 610,284. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.20. The business has a 50-day moving average of $31.86 and a 200-day moving average of $28.69. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.31 and a beta of 0.31.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to analysts' expectations of $138.56 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.