Vita Coco (NASDAQ:COCO) Shares Down 5.9% – What’s Next?

Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) fell 5.9% during mid-day trading on Wednesday . The company traded as low as $33.98 and last traded at $33.37. 213,086 shares were traded during mid-day trading, a decline of 61% from the average session volume of 548,437 shares. The stock had previously closed at $35.45.

Wall Street Analysts Forecast Growth

Several research firms have commented on COCO. The Goldman Sachs Group increased their price objective on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Bank of America increased their price target on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company cut their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Stephens restated an “equal weight” rating and issued 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.57.

Vita Coco Stock Down 5.1 %

The firm has a market cap of $1.71 billion, a PE ratio of 30.23, a P/E/G ratio of 2.25 and a beta of 0.34. The firm has a 50 day moving average of $36.21 and a 200 day moving average of $33.87.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 700 shares of Vita Coco stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the transaction, the chief operating officer now owns 104,108 shares in the company, valued at $4,190,347. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the company’s 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. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,410 shares of company stock worth $3,017,811. 34.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its position in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after purchasing an additional 347 shares in the last quarter. GAMMA Investing LLC boosted its stake in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. Coppell Advisory Solutions LLC grew its holdings in Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after buying an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Vita Coco by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock valued at $824,000 after buying an additional 842 shares during the period. Finally, Moran Wealth Management LLC lifted its holdings in shares of Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock worth $704,000 after buying an additional 871 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

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.