Artisan Partners Limited Partnership Grows Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Artisan Partners Limited Partnership grew its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,502,587 shares of the company’s stock after buying an additional 185,692 shares during the period. Artisan Partners Limited Partnership owned 2.65% of Vita Coco worth $55,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Vita Coco during the fourth quarter valued at about $52,000. Venturi Wealth Management LLC bought a new position in Vita Coco in the fourth quarter worth about $66,000. Quest Partners LLC lifted its holdings in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vita Coco by 25.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock valued at $199,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ira Liran sold 20,235 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.07, for a total transaction of $810,816.45. Following the sale, the director now directly owns 814,302 shares of the company’s stock, valued at $32,629,081.14. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jonathan Burth sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the transaction, the chief operating officer now directly owns 94,108 shares of the company’s stock, valued at approximately $3,076,390.52. This trade represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,410 shares of company stock valued at $3,017,811. Insiders own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group boosted their target price 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. Bank of America increased their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Stephens reissued an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.57.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $29.93 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’s 50-day moving average is $36.21 and its 200 day moving average is $33.87. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 2.25 and a beta of 0.34.

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.