The Vita Coco Company, Inc. (NASDAQ:COCO) Stake Reduced by abrdn plc

abrdn plc decreased its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 25.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 633,332 shares of the company’s stock after selling 213,343 shares during the period. abrdn plc owned approximately 1.12% of Vita Coco worth $23,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in COCO. Barclays PLC lifted its stake in Vita Coco by 200.6% during the third quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after purchasing an additional 46,385 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after acquiring an additional 200,940 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Vita Coco during the 3rd quarter worth $3,990,000. Woodson Capital Management LP acquired a new position in shares of Vita Coco in the 3rd quarter worth $19,224,000. Finally, Victory Capital Management Inc. raised its position in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the sale, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jonathan Burth sold 4,052 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.60, for a total transaction of $152,355.20. Following the transaction, the chief operating officer now owns 104,108 shares in the company, valued at approximately $3,914,460.80. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,100 shares of company stock valued at $4,237,123 in the last 90 days. 34.20% of the stock is currently owned by insiders.

Vita Coco Stock Up 0.6 %

NASDAQ:COCO opened at $37.32 on Friday. The company’s 50 day moving average is $36.07 and its 200-day moving average is $31.29. The Vita Coco Company, Inc. has a 12 month low of $19.46 and a 12 month high of $38.91. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 37.70, a P/E/G ratio of 2.25 and a beta of 0.30.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research report on Monday, January 27th. Bank of America lifted their target price 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. Wells Fargo & Company upped their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Craig Hallum lifted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Vita Coco 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.