Vita Coco Company, Inc. $COCO Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 33.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,835 shares of the company’s stock after selling 31,987 shares during the period. Quantbot Technologies LP owned about 0.11% of Vita Coco worth $2,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after buying an additional 1,174 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Vita Coco by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 33,243 shares of the company’s stock worth $1,200,000 after acquiring an additional 1,872 shares in the last quarter. Versor Investments LP grew its position in shares of Vita Coco by 27.9% during the 2nd quarter. Versor Investments LP now owns 13,428 shares of the company’s stock valued at $485,000 after acquiring an additional 2,928 shares during the period. Bryce Point Capital LLC purchased a new position in shares of Vita Coco in the 2nd quarter valued at about $769,000. Finally, Geode Capital Management LLC raised its holdings in Vita Coco by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company’s stock worth $36,759,000 after purchasing an additional 28,448 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Down 0.6%

Shares of COCO opened at $54.12 on Wednesday. Vita Coco Company, Inc. has a 52-week low of $25.79 and a 52-week high of $59.88. The stock has a market cap of $3.09 billion, a PE ratio of 45.86, a price-to-earnings-growth ratio of 1.71 and a beta of 0.37. The firm’s fifty day moving average is $54.64 and its two-hundred day moving average is $47.43.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $127.79 million during the quarter, compared to analysts’ expectations of $117.80 million. Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. As a group, research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total transaction of $210,288.00. Following the transaction, the director owned 608,266 shares in the company, valued at approximately $32,797,702.72. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jane Cecil Morreau sold 15,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the completion of the sale, the director owned 17,179 shares of the company’s stock, valued at approximately $926,119.89. The trade was a 46.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 72,800 shares of company stock valued at $4,052,956 in the last ninety days. 34.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on COCO shares. The Goldman Sachs Group raised their price objective on Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Evercore reissued an “outperform” rating and issued a $58.00 price target on shares of Vita Coco in a research note on Thursday, February 19th. Piper Sandler upped their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Zacks Research downgraded shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and lifted their target price for the company from $48.00 to $54.00 in a research report on Monday, November 17th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.88.

Vita Coco Company 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.