Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells 1,723 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 1,723 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total value of $68,954.46. Following the completion of the sale, the director now directly owns 812,579 shares of the company’s stock, valued at $32,519,411.58. This represents a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ira Liran also recently made the following trade(s):

• On Friday, February 14th, Ira Liran sold 20,235 shares of Vita Coco stock. The stock was sold at an average price of $40.07, for a total value of $810,816.45.
• On Wednesday, February 12th, Ira Liran sold 300 shares of Vita Coco stock. The stock was sold at an average price of $40.02, for a total value of $12,006.00.
• On Thursday, December 19th, Ira Liran sold 30,000 shares of Vita Coco stock. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00.

Vita Coco Trading Down 5.5 %

COCO traded down $2.19 on Thursday, hitting $37.50. 1,006,546 shares of the stock traded hands, compared to its average volume of 562,079. The Vita Coco Company, Inc. has a 52 week low of $20.64 and a 52 week high of $40.32. The firm has a market capitalization of $2.13 billion, a PE ratio of 37.88, a P/E/G ratio of 2.35 and a beta of 0.30. The business has a fifty day moving average price of $36.70 and a two-hundred day moving average price of $32.27.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently modified their holdings of COCO. Raymond James & Associates bought a new stake in shares of Vita Coco in the 3rd quarter valued at approximately $3,990,000. Allspring Global Investments Holdings LLC grew its stake in shares of Vita Coco by 18.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company’s stock valued at $1,310,000 after purchasing an additional 7,173 shares during the period. US Bancorp DE grew its stake in shares of Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock valued at $424,000 after purchasing an additional 1,178 shares during the period. Conestoga Capital Advisors LLC bought a new stake in shares of Vita Coco in the 3rd quarter valued at approximately $1,010,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Vita Coco by 143.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after purchasing an additional 200,940 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on COCO. Bank of America lifted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Craig Hallum boosted their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

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.