The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $38.16, but opened at $33.22. Vita Coco shares last traded at $34.00, with a volume of 498,118 shares.
Wall Street Analysts Forecast Growth
A number of research firms have commented on COCO. The Goldman Sachs Group upped 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. Wells Fargo & Company decreased their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday. Bank of America lifted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Finally, Stephens lowered Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.14.
View Our Latest Analysis on Vita Coco
Vita Coco Stock Performance
The stock has a market capitalization of $1.85 billion, a PE ratio of 32.77, a P/E/G ratio of 2.25 and a beta of 0.30. The firm's 50 day moving average is $36.61 and its two-hundred day moving average is $32.75.
Insider Transactions at Vita Coco
In related news, COO Jonathan Burth sold 14,836 shares of Vita Coco stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.61, for a total value of $557,981.96. Following the completion of the transaction, the chief operating officer now owns 105,417 shares in the company, valued at $3,964,733.37. The trade was a 12.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 853,729 shares in the company, valued at approximately $30,375,677.82. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,270 shares of company stock valued at $4,309,019. 34.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Vita Coco
A number of institutional investors and hedge funds have recently modified their holdings of COCO. Raymond James & Associates purchased a new stake in Vita Coco during the 3rd quarter worth about $3,990,000. US Bancorp DE raised its position in shares of Vita Coco by 8.5% during the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company's stock worth $424,000 after acquiring an additional 1,178 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Vita Coco by 143.0% during the third 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. Victory Capital Management Inc. boosted its holdings in 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 in the last quarter. Finally, Quest Partners LLC increased its stake in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company's stock valued at $99,000 after purchasing an additional 3,473 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.
About Vita Coco
(
Get Free Report)
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.
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