12,108 Shares in Vita Coco Company, Inc. $COCO Purchased by Virtu Financial LLC

Virtu Financial LLC acquired a new position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, Holdings Channel.com reports. The firm acquired 12,108 shares of the company’s stock, valued at approximately $642,000.

A number of other large investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its position in Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the period. Clearstead Advisors LLC grew its position in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after buying an additional 675 shares during the period. Quarry LP raised its stake in shares of Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COCO. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Evercore reiterated an “outperform” rating and set a $70.00 target price on shares of Vita Coco in a research report on Thursday, March 12th. Piper Sandler reissued an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Wednesday, April 29th. Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of Vita Coco in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $82.88 on Tuesday. The firm’s 50 day simple moving average is $69.11 and its 200 day simple moving average is $59.26. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $85.83. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 60.50, a P/E/G ratio of 2.01 and a beta of 0.74.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million during the quarter, compared to analysts’ expectations of $148.39 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. Equities research analysts expect that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other news, COO Jonathan Burth sold 40,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00. Following the completion of the transaction, the chief operating officer owned 57,910 shares of the company’s stock, valued at $3,691,762.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Martin Roper sold 25,000 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the chief executive officer owned 298,484 shares of the company’s stock, valued at approximately $14,924,200. This represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 707,306 shares of company stock valued at $49,251,613. 34.20% of the stock is owned by company insiders.

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.