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 Vita Coco stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total transaction of $210,000.00. Following the sale, the chairman now owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 17th, Michael Kirban sold 20,000 shares of Vita Coco stock. The shares were 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 shares were sold at an average price of $34.57, for a total transaction of $691,400.00.

Vita Coco Price Performance

COCO stock opened at $35.51 on Friday. The Vita Coco Company, Inc. has a 1-year low of $23.00 and a 1-year high of $40.32. The firm has a fifty day moving average price of $36.31 and a two-hundred day moving average price of $33.63. The firm has a market cap 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

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company cut their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a report on Monday, January 27th. Finally, Bank of America upped their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.14.

Institutional Trading of Vita Coco

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased 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. Woodson Capital Management LP bought a new position in shares of Vita Coco during the third quarter worth about $19,224,000. Lord Abbett & CO. LLC grew its position in shares of Vita Coco by 21.1% during the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after acquiring an additional 80,128 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new position in shares of Vita Coco during the fourth quarter worth about $790,000. Finally, AlphaQuest LLC grew its position in shares of Vita Coco by 712.3% during the fourth quarter. AlphaQuest LLC now owns 28,382 shares of the company’s stock worth $1,048,000 after acquiring an additional 24,888 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Company 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.