Driehaus Capital Management LLC Increases Stock Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Driehaus Capital Management LLC boosted its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 77.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 854,617 shares of the company's stock after purchasing an additional 372,633 shares during the quarter. Driehaus Capital Management LLC owned about 1.51% of Vita Coco worth $31,544,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Vita Coco news, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $34.25, for a total transaction of $129,011,598.50. Following the sale, the insider now directly owns 7,097,161 shares in the company, valued at $243,077,764.25. This represents a 34.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Burth sold 700 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the sale, the chief operating officer now owns 104,108 shares in the company, valued at approximately $4,190,347. This trade represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,854,120 shares of company stock valued at $132,155,214 in the last ninety days. 32.30% of the stock is currently owned by corporate insiders.

Vita Coco Stock Down 1.8%

Shares of NASDAQ COCO traded down $0.60 during trading on Monday, hitting $32.71. The company had a trading volume of 925,722 shares, compared to its average volume of 608,250. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The stock has a fifty day simple moving average of $32.29 and a two-hundred day simple moving average of $34.57. The Vita Coco Company, Inc. has a fifty-two week low of $23.56 and a fifty-two week high of $40.32.

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

Vita Coco Company 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.