18,872 Shares in Vita Coco Company, Inc. $COCO Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,872 shares of the company’s stock, valued at approximately $801,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Vita Coco in the third quarter worth about $62,815,000. State of Alaska Department of Revenue acquired a new stake in Vita Coco in the 3rd quarter valued at approximately $93,000. SG Americas Securities LLC increased its position in Vita Coco by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 12,313 shares of the company’s stock worth $523,000 after buying an additional 2,006 shares during the period. Moran Wealth Management LLC lifted its holdings in shares of Vita Coco by 6.1% during the third quarter. Moran Wealth Management LLC now owns 20,559 shares of the company’s stock worth $873,000 after buying an additional 1,183 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Vita Coco by 20.3% during the third quarter. KLP Kapitalforvaltning AS now owns 9,500 shares of the company’s stock worth $403,000 after buying an additional 1,600 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 17th. The Goldman Sachs Group boosted their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Wall Street Zen raised shares of Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Wells Fargo & Company increased their target price on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Evercore ISI upped their price target on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.50.

Insider Activity

In other Vita Coco news, Director Ira Liran sold 33,862 shares of Vita Coco stock in a transaction on Monday, November 24th. The stock was sold at an average price of $50.27, for a total value of $1,702,242.74. Following the completion of the transaction, the director owned 602,579 shares in the company, valued at approximately $30,291,646.33. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Kirban sold 5,102 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.00, for a total value of $224,488.00. Following the sale, the chairman owned 1,479,049 shares in the company, valued at $65,078,156. The trade was a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 211,421 shares of company stock valued at $10,080,091 in the last ninety days. 34.20% of the stock is currently owned by corporate insiders.

Vita Coco Price Performance

Vita Coco stock opened at $55.73 on Tuesday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 48.46, a P/E/G ratio of 1.51 and a beta of 0.38. The stock has a fifty day moving average price of $53.70 and a two-hundred day moving average price of $44.38. Vita Coco Company, Inc. has a 52-week low of $25.79 and a 52-week high of $56.46.

Vita Coco Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.