Pier Capital LLC Increases Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Pier Capital LLC increased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 39.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200,623 shares of the company's stock after buying an additional 56,879 shares during the quarter. Pier Capital LLC owned about 0.35% of Vita Coco worth $7,405,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Vita Coco by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company's stock valued at $95,565,000 after acquiring an additional 11,712 shares during the period. Wasatch Advisors LP increased its stake in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock valued at $67,972,000 after purchasing an additional 1,799,168 shares during the period. Geode Capital Management LLC raised its holdings in shares of Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company's stock valued at $29,494,000 after buying an additional 101,823 shares during the last quarter. State Street Corp boosted its stake in shares of Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company's stock worth $24,821,000 after buying an additional 39,431 shares during the period. Finally, Woodson Capital Management LP acquired a new position in Vita Coco in the 3rd quarter valued at about $19,224,000. Institutional investors and hedge funds own 88.49% of the company's stock.

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Analyst Ratings Changes

COCO has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Bank of America upped their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Stephens reaffirmed an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a report on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Vita Coco presently has a consensus rating of "Moderate Buy" and an average target price of $34.57.

Vita Coco Price Performance

Vita Coco stock traded down $0.08 during mid-day trading on Friday, reaching $29.85. The company had a trading volume of 522,153 shares, compared to its average volume of 571,600. The stock's 50-day simple moving average is $36.12 and its 200-day simple moving average is $33.94. The company has a market capitalization of $1.70 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 1 year low of $23.00 and a 1 year high of $40.32.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 20,235 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.07, for a total transaction of $810,816.45. Following the completion of the transaction, the director now directly owns 814,302 shares of the company's stock, valued at $32,629,081.14. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock valued at $3,017,811 in the last ninety days. Corporate insiders own 34.20% of the company's stock.

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.