The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells $810,816.45 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 20,235 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, February 19th, Ira Liran sold 1,723 shares of Vita Coco stock. The shares were sold at an average price of $40.02, for a total transaction of $68,954.46.
• 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 transaction 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 transaction of $1,067,400.00.

Vita Coco Trading Down 5.5 %

Shares of NASDAQ:COCO opened at $37.50 on Friday. 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 P/E ratio of 37.88, a PEG ratio of 2.35 and a beta of 0.30. The firm’s 50 day moving average is $36.71 and its two-hundred day moving average is $32.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COCO. Raymond James & Associates acquired a new position in shares of Vita Coco during the third quarter valued at approximately $3,990,000. Allspring Global Investments Holdings LLC increased its stake in shares of Vita Coco by 18.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 46,269 shares of the company’s stock valued at $1,310,000 after acquiring an additional 7,173 shares during the period. US Bancorp DE grew its position in Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after buying an additional 1,178 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new position in Vita Coco in the third quarter worth approximately $1,010,000. Finally, Harbor Capital Advisors Inc. grew its position in Vita Coco by 143.0% in the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after buying an additional 200,940 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Craig Hallum increased their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Stephens lowered 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 research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Vita Coco 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.