Vita Coco (NASDAQ:COCO) Shares Up 3% - Here's Why

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) were up 3% on Monday . The stock traded as high as $30.65 and last traded at $30.74. Approximately 270,050 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 570,459 shares. The stock had previously closed at $29.85.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on COCO shares. The Goldman Sachs Group increased their target price on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Stephens reissued an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. Bank of America upped their target price on shares of Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company reduced their price target on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.57.

Vita Coco Stock Performance

The company's 50-day moving average is $35.89 and its 200-day moving average is $34.04. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 2.25 and a beta of 0.34.

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Insiders Place Their Bets

In other news, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the sale, the director now directly owns 814,302 shares of the company's stock, valued at approximately $32,629,081.14. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the sale, the chief operating officer now owns 94,108 shares of the company's stock, valued at approximately $3,076,390.52. The trade was a 9.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,410 shares of company stock valued at $3,017,811. Insiders own 34.20% of the company's stock.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC grew its holdings in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after acquiring an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco during the 4th quarter valued at $52,000. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at $66,000. Finally, Summit Investment Advisors Inc. boosted its position in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after purchasing an additional 347 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.