Michael Kirban Sells 20,000 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the transaction, the chairman now owns 2,006,229 shares in the company, valued at approximately $69,355,336.53. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Kirban also recently made the following trade(s):

• On Wednesday, March 19th, Michael Kirban sold 6,000 shares of Vita Coco stock. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00.
• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $35.06, for a total transaction of $701,200.00.

Vita Coco Price Performance

Vita Coco stock opened at $35.57 on Friday. The stock’s 50 day moving average is $36.27 and its 200 day moving average is $33.56. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The firm has a market cap of $2.03 billion, a P/E ratio of 35.93, a P/E/G ratio of 2.25 and a beta of 0.34.

Analysts Set New Price Targets

COCO has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research note on Monday, January 27th. Finally, Bank of America boosted 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.14.

Institutional Investors Weigh In On Vita Coco

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco in the fourth quarter worth approximately $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco in the fourth quarter valued at approximately $66,000. Finally, Quest Partners LLC boosted its holdings in shares of Vita Coco by 16,538.1% during 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 in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.