The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Entropy Technologies LP

Entropy Technologies LP lessened its position in The Vita Coco Company, Inc. (NASDAQ:COCO) by 33.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,839 shares of the company’s stock after selling 8,784 shares during the period. Entropy Technologies LP’s holdings in Vita Coco were worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moran Wealth Management LLC lifted its position in Vita Coco by 7.0% in the fourth quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock valued at $243,000 after purchasing an additional 619 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Vita Coco by 5.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock valued at $337,000 after buying an additional 638 shares during the period. Versor Investments LP boosted its stake in shares of Vita Coco by 9.9% in the fourth quarter. Versor Investments LP now owns 14,086 shares of the company’s stock valued at $361,000 after buying an additional 1,274 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Vita Coco during the fourth quarter worth $60,000. Finally, Russell Investments Group Ltd. grew its holdings in Vita Coco by 8.8% during the fourth quarter. Russell Investments Group Ltd. now owns 30,284 shares of the company’s stock worth $776,000 after acquiring an additional 2,455 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their target price on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Piper Sandler downgraded shares of Vita Coco from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Bank of America increased their target price on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Stephens reissued an “overweight” rating and set a $31.00 price target on shares of Vita Coco in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $30.29.

Vita Coco Stock Down 2.1 %

Shares of Vita Coco stock traded down $0.56 during trading on Friday, hitting $25.93. 480,187 shares of the company were exchanged, compared to its average volume of 661,873. The firm has a 50 day moving average price of $27.92 and a 200 day moving average price of $25.22. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 1.62 and a beta of 0.23. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. Analysts predict that The Vita Coco Company, Inc. will post 1.01 earnings per share for the current year.

Insider Activity at Vita Coco

In other news, CMO Jane Prior sold 2,935 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $30.06, for a total transaction of $88,226.10. Following the sale, the chief marketing officer now owns 131,834 shares in the company, valued at $3,962,930.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Jane Prior sold 2,935 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $30.06, for a total transaction of $88,226.10. Following the completion of the transaction, the chief marketing officer now owns 131,834 shares of the company’s stock, valued at $3,962,930.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Es Charles Van sold 6,700 shares of Vita Coco stock in a transaction on Monday, June 17th. The shares were sold at an average price of $30.04, for a total transaction of $201,268.00. Following the completion of the transaction, the insider now owns 97,668 shares in the company, valued at approximately $2,933,946.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,874 shares of company stock valued at $945,365. Company insiders own 34.20% 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.