AlphaQuest LLC Sells 16,997 Shares of Vita Coco Company, Inc. $COCO

AlphaQuest LLC lowered its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 68.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,714 shares of the company’s stock after selling 16,997 shares during the period. AlphaQuest LLC’s holdings in Vita Coco were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after purchasing an additional 1,174 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Vita Coco during the 2nd quarter valued at $50,000. Moran Wealth Management LLC increased its stake in shares of Vita Coco by 3.9% in the 2nd quarter. Moran Wealth Management LLC now owns 19,376 shares of the company’s stock worth $699,000 after acquiring an additional 731 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Vita Coco by 28.1% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 45,560 shares of the company’s stock worth $1,645,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its position in Vita Coco by 8.4% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 27,167 shares of the company’s stock valued at $981,000 after acquiring an additional 2,096 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 3.5%

COCO opened at $58.96 on Monday. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 1.67 and a beta of 0.38. The firm has a 50 day moving average price of $54.01 and a 200-day moving average price of $44.90. Vita Coco Company, Inc. has a twelve month low of $25.79 and a twelve month high of $59.05.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COCO. Morgan Stanley upped their price objective on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Evercore lifted their price objective on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. The Goldman Sachs Group boosted their target price on Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Finally, Wall Street Zen raised Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Insiders Place Their Bets

In related news, Director Ira Liran sold 20,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $56.66, for a total transaction of $1,133,200.00. Following the completion of the sale, the director owned 478,341 shares in the company, valued at approximately $27,102,801.06. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $53.92, for a total value of $210,288.00. Following the completion of the transaction, the director directly owned 608,266 shares in the company, valued at approximately $32,797,702.72. This represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 211,421 shares of company stock valued at $10,842,491. Company insiders own 34.20% of the company’s stock.

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.