Vita Coco (NASDAQ:COCO) Shares Gap Down – Should You Sell?

The Vita Coco Company, Inc. (NASDAQ:COCO) shares gapped down before the market opened on Wednesday . The stock had previously closed at $38.16, but opened at $33.22. Vita Coco shares last traded at $34.00, with a volume of 498,118 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on COCO. Bank of America raised their price objective 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. Stephens lowered 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 report on Monday, January 27th. Wells Fargo & Company upped their target price on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Craig Hallum raised their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.83.

Vita Coco Stock Performance

The firm has a market cap of $1.98 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.30. The business’s fifty day moving average is $36.79 and its 200-day moving average is $32.65.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, February 26th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $35.54, for a total value of $177,700.00. Following the completion of the sale, the chief executive officer now owns 392,152 shares in the company, valued at approximately $13,937,082.08. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the transaction, the director now owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,270 shares of company stock valued at $4,488,069. Company insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

Several hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its holdings in shares of Vita Coco by 299.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after buying an additional 1,799,168 shares during the period. Woodson Capital Management LP bought a new position in Vita Coco during the third quarter valued at $19,224,000. Victory Capital Management Inc. raised its stake in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after acquiring an additional 461,748 shares during the period. Bank of America Corp DE lifted its position in shares of Vita Coco by 382.2% during the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock worth $18,902,000 after purchasing an additional 405,913 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its position in shares of Vita Coco by 77.3% during the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock worth $31,544,000 after buying an additional 372,633 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

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.