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

AlphaQuest LLC lowered its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO) by 68.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of COCO. Wilmington Savings Fund Society FSB bought a new stake in Vita Coco in the 3rd quarter worth approximately $62,815,000. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 28,448 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Vita Coco by 2.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 701,748 shares of the company’s stock valued at $25,333,000 after purchasing an additional 19,431 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Vita Coco by 10.3% during the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock valued at $21,703,000 after purchasing an additional 47,632 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in Vita Coco by 37.8% in the 2nd quarter. Raymond James Financial Inc. now owns 310,363 shares of the company’s stock worth $11,204,000 after purchasing an additional 85,056 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vita Coco news, Chairman Michael Kirban sold 5,102 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $44.00, for a total transaction of $224,488.00. Following the transaction, the chairman directly owned 1,479,049 shares of the company’s stock, valued at approximately $65,078,156. The trade was a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Es Charles Van sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the insider directly owned 84,328 shares of the company’s stock, valued at approximately $4,216,400. This represents a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 211,421 shares of company stock valued at $10,842,491 over the last three months. 34.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Evercore boosted their target price on Vita Coco from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Wells Fargo & Company increased their target price on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Morgan Stanley lifted their price target on Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, Wall Street Zen upgraded Vita Coco from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Vita Coco Price Performance

Shares of NASDAQ:COCO opened at $58.96 on Monday. The stock’s 50-day moving average is $54.01 and its 200 day moving average is $44.90. The company has a market cap of $3.36 billion, a PE ratio of 51.27, a P/E/G ratio of 1.67 and a beta of 0.38. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $59.05.

About Vita Coco

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.