Allworth Financial LP Sells 20,771 Shares of Vita Coco Company, Inc. $COCO

Allworth Financial LP lowered its position in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,613 shares of the company's stock after selling 20,771 shares during the quarter. Allworth Financial LP owned 0.18% of Vita Coco worth $6,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after buying an additional 1,174 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock valued at $49,000 after acquiring an additional 1,344 shares during the last quarter. Marshall Wace LLP acquired a new stake in Vita Coco during the 2nd quarter valued at approximately $9,627,000. Cerity Partners LLC acquired a new stake in Vita Coco during the 2nd quarter valued at approximately $645,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Vita Coco during the 2nd quarter valued at approximately $2,990,000. Institutional investors own 88.49% of the company's stock.

Insider Activity at Vita Coco

In other Vita Coco news, Director Kenneth Sadowsky sold 3,900 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director owned 580,296 shares in the company, valued at approximately $48,118,144.32. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 74,232 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $80.29, for a total value of $5,960,087.28. Following the completion of the sale, the director directly owned 309,871 shares of the company's stock, valued at $24,879,542.59. This trade represents a 19.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 151,974 shares of company stock worth $12,214,465. Corporate insiders own 12.90% of the company's stock.

Vita Coco Trading Down 3.3%

Shares of NASDAQ COCO opened at $51.49 on Thursday. The firm's 50-day moving average price is $65.37 and its 200-day moving average price is $64.21. Vita Coco Company, Inc. has a 1-year low of $37.63 and a 1-year high of $85.83. The firm has a market capitalization of $2.96 billion, a P/E ratio of 28.45, a P/E/G ratio of 1.00 and a beta of 0.75.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.26. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The company had revenue of $216.15 million for the quarter, compared to analysts' expectations of $210.64 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business's revenue was up 28.1% on a year-over-year basis. Equities research analysts forecast that Vita Coco Company, Inc. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Vita Coco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Evercore increased their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Citigroup reissued a "buy" rating on shares of Vita Coco in a research note on Tuesday, May 26th. The Goldman Sachs Group set a $90.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.71.

Vita Coco Company Profile

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.

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