Vita Coco (NASDAQ:COCO) Given New $39.00 Price Target at Wells Fargo & Company

Vita Coco (NASDAQ:COCO - Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $40.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 18.97% from the stock's previous close.

A number of other research firms have also commented on COCO. Stephens lowered shares of Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 price objective on the stock. in a research note on Monday, January 27th. Bank of America upped their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their target price on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Vita Coco has an average rating of "Moderate Buy" and an average price target of $35.14.

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Vita Coco Stock Performance

Shares of COCO traded up $0.34 during mid-day trading on Thursday, reaching $32.78. 663,175 shares of the company were exchanged, compared to its average volume of 648,216. The business has a 50 day simple moving average of $36.61 and a two-hundred day simple moving average of $32.80. Vita Coco has a 52 week low of $23.00 and a 52 week high of $40.32. The stock has a market capitalization of $1.87 billion, a PE ratio of 33.11, a PEG ratio of 2.25 and a beta of 0.30.

Insiders Place Their Bets

In related news, CEO Martin F. Roper sold 5,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $36.24, for a total value of $181,200.00. Following the transaction, the chief executive officer now owns 382,152 shares of the company's stock, valued at approximately $13,849,188.48. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jane Prior sold 3,638 shares of Vita Coco stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $37.04, for a total value of $134,751.52. Following the transaction, the chief marketing officer now owns 130,751 shares of the company's stock, valued at $4,843,017.04. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,270 shares of company stock worth $3,774,419. Corporate insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. raised its position in Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after buying an additional 347 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Vita Coco by 84.9% in the fourth 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 raised its holdings in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vita Coco by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company's stock valued at $824,000 after purchasing an additional 842 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its holdings in Vita Coco by 4.8% during the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock worth $704,000 after purchasing an additional 871 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

About Vita Coco

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.