25,000 Shares in Vita Coco Company, Inc. $COCO Acquired by Maven Securities LTD

Maven Securities LTD bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO) in the third quarter, HoldingsChannel reports. The fund bought 25,000 shares of the company’s stock, valued at approximately $1,062,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COCO. Clearstead Advisors LLC raised its stake in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the period. Quarry LP boosted its holdings in shares of Vita Coco by 12,633.3% in the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. MAI Capital Management purchased a new stake in shares of Vita Coco during the 2nd quarter valued at $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Vita Coco during the 3rd quarter worth $54,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 4.1%

Shares of COCO stock opened at $58.14 on Wednesday. The company has a market cap of $3.32 billion, a PE ratio of 49.27, a P/E/G ratio of 1.91 and a beta of 0.37. The company’s fifty day simple moving average is $55.20 and its 200-day simple moving average is $48.91. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $61.39.

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

Insider Activity at Vita Coco

In other news, CFO Corey Baker sold 2,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $57.98, for a total value of $115,960.00. Following the completion of the sale, the chief financial officer owned 31,951 shares in the company, valued at approximately $1,852,518.98. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane Cecil Morreau sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.91, for a total value of $808,650.00. Following the sale, the director owned 17,179 shares in the company, valued at approximately $926,119.89. The trade was a 46.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 122,900 shares of company stock valued at $6,731,318 over the last 90 days. Corporate insiders own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the topic of several research reports. Piper Sandler increased their target price on Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. Wells Fargo & Company raised their price objective on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $56.38.

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.