Voleon Capital Management LP Invests $562,000 in The Vita Coco Company, Inc. (NASDAQ:COCO)

Voleon Capital Management LP acquired a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,222 shares of the company's stock, valued at approximately $562,000.

Several other large investors also recently made changes to their positions in the stock. Summit Investment Advisors Inc. boosted its position in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after acquiring an additional 347 shares during the period. GAMMA Investing LLC raised its stake in Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the period. Moran Wealth Management LLC grew its position in Vita Coco by 4.8% in the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock worth $704,000 after purchasing an additional 871 shares during the last quarter. Finally, West Coast Financial LLC increased its holdings in shares of Vita Coco by 1.2% during the 4th 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. Institutional investors own 88.49% of the company's stock.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of the business'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 value of $28,175.00. Following the completion of the transaction, the chief operating officer now owns 104,108 shares in the company, valued at $4,190,347. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. Following the transaction, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,358 shares of company stock valued at $2,865,456 over the last ninety days. 34.20% of the stock is owned by insiders.

Vita Coco Stock Performance

Vita Coco stock traded up $0.74 during trading hours on Friday, hitting $34.21. 709,457 shares of the stock were exchanged, compared to its average volume of 598,970. The stock has a market capitalization of $1.95 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.25 and a beta of 0.38. The business's 50-day moving average is $32.11 and its two-hundred day moving average is $34.35. The Vita Coco Company, Inc. has a 12 month low of $23.56 and a 12 month high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $130.92 million for the quarter, compared to analyst estimates of $125.64 million. During the same period in the prior year, the company earned $0.24 EPS. Vita Coco's revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COCO has been the subject of several research reports. Wells Fargo & Company reduced their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Stephens reiterated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group upped their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Evercore ISI raised their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.00.

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.