The Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 24.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,566 shares of the company’s stock after selling 18,421 shares during the quarter. Gotham Asset Management LLC owned 0.10% of Vita Coco worth $2,125,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of COCO. Wasatch Advisors LP grew its stake in Vita Coco by 17.8% during the 4th quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock valued at $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Bank of America Corp DE grew its stake in Vita Coco by 382.2% during the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after purchasing an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in Vita Coco by 77.3% during the 4th quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock worth $31,544,000 after buying an additional 372,633 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Vita Coco during the 4th quarter worth approximately $10,715,000. Finally, Raymond James Financial Inc. bought a new position in Vita Coco during the 4th quarter worth approximately $7,985,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 1,723 shares of Vita Coco stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total transaction of $68,954.46. Following the sale, the director now owns 812,579 shares of the company’s stock, valued at $32,519,411.58. The trade was a 0.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the sale, the chairman now directly owns 2,006,229 shares in the company, valued at $69,355,336.53. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,832,485 shares of company stock valued at $131,288,213 in the last quarter. Corporate insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on COCO. Evercore ISI increased their target price on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the stock a “buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective 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, Stephens reaffirmed an “equal weight” rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.38.

Vita Coco Trading Up 1.8%

Shares of NASDAQ COCO opened at $34.61 on Friday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 12-month low of $23.56 and a 12-month high of $40.32. The stock’s 50 day simple moving average is $32.31 and its 200 day simple moving average is $34.61.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The business had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. As a group, equities analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.