Michael Kirban Sells 6,000 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the sale, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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.
• On Friday, March 14th, Michael Kirban sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Stock Performance

NASDAQ COCO opened at $35.51 on Friday. The Vita Coco Company, Inc. has a one year low of $23.00 and a one year high of $40.32. The company’s 50 day moving average price is $36.31 and its 200 day moving average price is $33.63. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.25 and a beta of 0.34.

Wall Street Analyst Weigh In

COCO has been the topic of several research analyst reports. Stephens cut shares of 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. Bank of America raised 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 decreased their target price 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. Finally, The Goldman Sachs Group raised their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in 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 buying an additional 360 shares during the period. Coppell Advisory Solutions LLC raised its holdings in 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 buying an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Vita Coco during the fourth quarter valued at approximately $52,000. Venturi Wealth Management LLC purchased a new stake in shares of Vita Coco during the fourth quarter valued at approximately $66,000. Finally, Quest Partners LLC raised its stake in shares of Vita Coco by 16,538.1% during 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 period. Hedge funds and other 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.