Two Sigma Advisers LP Sells 163,100 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Two Sigma Advisers LP reduced its stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 26.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 443,000 shares of the company's stock after selling 163,100 shares during the quarter. Two Sigma Advisers LP owned approximately 0.78% of Vita Coco worth $12,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COCO. nVerses Capital LLC increased its position in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock worth $72,000 after buying an additional 1,900 shares during the period. CWM LLC increased its position in Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock worth $76,000 after buying an additional 787 shares during the period. Comerica Bank increased its position in Vita Coco by 1,155.7% in the 1st quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after buying an additional 3,675 shares during the period. Quest Partners LLC increased its position in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company's stock worth $99,000 after buying an additional 3,473 shares during the period. Finally, ProShare Advisors LLC bought a new position in Vita Coco in the 2nd quarter worth approximately $141,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Trading Up 0.2 %

COCO stock traded up $0.07 during trading on Tuesday, hitting $36.35. The company had a trading volume of 312,846 shares, compared to its average volume of 605,418. The company has a fifty day moving average price of $32.45 and a two-hundred day moving average price of $28.97. The company has a market cap of $2.06 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.37 and a beta of 0.31. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.20.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. Vita Coco's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. On average, analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

COCO has been the topic of a number of research reports. Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday. Craig Hallum boosted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.14.

Insider Activity at Vita Coco

In other Vita Coco news, Director Ira Liran sold 27,176 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total value of $979,423.04. Following the transaction, the director now owns 883,729 shares of the company's stock, valued at approximately $31,849,593.16. The trade was a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 2,244 shares of the business'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 directly owns 124,605 shares in the company, valued at approximately $3,739,396.05. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,951 shares of company stock valued at $3,201,769 in the last 90 days. 34.20% of the stock is owned by corporate insiders.

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.