Cubist Systematic Strategies LLC Purchases Shares of 107,566 The Vita Coco Company, Inc. (NASDAQ:COCO)

Cubist Systematic Strategies LLC acquired a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 107,566 shares of the company's stock, valued at approximately $3,970,000. Cubist Systematic Strategies LLC owned about 0.19% of Vita Coco at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COCO. Wasatch Advisors LP raised its stake in Vita Coco by 17.8% in the 4th quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company's stock worth $104,414,000 after acquiring an additional 427,871 shares during the last quarter. Bank of America Corp DE raised its stake in Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock worth $18,902,000 after acquiring an additional 405,913 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Vita Coco in the 4th quarter worth $10,715,000. Raymond James Financial Inc. purchased a new position in Vita Coco in the 4th quarter worth $7,985,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Vita Coco in the 4th quarter worth $7,609,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 20,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $34.57, for a total transaction of $691,400.00. Following the completion of the transaction, the chairman now directly owns 2,006,229 shares of the company's stock, valued at approximately $69,355,336.53. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Zupo sold 8,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $34.77, for a total value of $278,160.00. Following the transaction, the director now directly owns 8,876 shares of the company's stock, valued at approximately $308,618.52. This represents a 47.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,853,420 shares of company stock valued at $132,127,204. 32.30% of the stock is currently owned by corporate insiders.

Vita Coco Stock Up 0.8%

NASDAQ:COCO traded up $0.26 during trading hours on Thursday, reaching $34.25. 169,732 shares of the stock were exchanged, compared to its average volume of 614,587. The business has a 50-day moving average of $32.31 and a two-hundred day moving average of $34.58. The Vita Coco Company, Inc. has a twelve month low of $23.56 and a twelve month high of $40.32. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.25 and a beta of 0.38.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Evercore ISI raised their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Stephens reaffirmed an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Vita Coco presently has an average rating of "Moderate Buy" and a consensus price target of $35.38.

Vita Coco Profile

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.