NewEdge Advisors LLC Invests $2.25 Million in The Vita Coco Company, Inc. (NASDAQ:COCO)

NewEdge Advisors LLC purchased a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 61,042 shares of the company’s stock, valued at approximately $2,253,000. NewEdge Advisors LLC owned about 0.11% of Vita Coco as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its stake in shares of Vita Coco by 9.2% during 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 during the last quarter. GAMMA Investing LLC raised its position in shares of Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Vita Coco by 4.8% during the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock valued at $704,000 after acquiring an additional 871 shares during the period. West Coast Financial LLC increased its position in Vita Coco by 1.2% in the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company’s stock worth $3,390,000 after purchasing an additional 1,109 shares during the period. Finally, Summit Creek Advisors LLC raised its holdings in Vita Coco by 0.3% during the 4th quarter. Summit Creek Advisors LLC now owns 401,984 shares of the company’s stock worth $14,837,000 after purchasing an additional 1,193 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stephens reiterated an “equal weight” rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Wells Fargo & Company dropped their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group raised their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus target price of $34.57.

Insider Buying and Selling

In related news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the sale, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at approximately $69,355,336.53. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan Burth sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.25, for a total transaction of $28,175.00. Following the completion of the transaction, the chief operating officer now owns 104,108 shares of the company’s stock, valued at $4,190,347. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,410 shares of company stock valued at $3,017,811. 34.20% of the stock is owned by company insiders.

Vita Coco Stock Down 2.7 %

Shares of NASDAQ COCO opened at $30.82 on Tuesday. The Vita Coco Company, Inc. has a twelve month low of $23.00 and a twelve month high of $40.32. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 2.25 and a beta of 0.38. The company’s fifty day moving average is $33.38 and its 200-day moving average is $34.18.

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.