DAVENPORT & Co LLC Cuts Stock Holdings in Celsius Holdings Inc. (NASDAQ:CELH)

DAVENPORT & Co LLC reduced its holdings in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 62.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,249 shares of the company's stock after selling 18,932 shares during the quarter. DAVENPORT & Co LLC's holdings in Celsius were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CELH. HM Payson & Co. lifted its holdings in Celsius by 122.2% during the 4th quarter. HM Payson & Co. now owns 1,000 shares of the company's stock valued at $26,000 after purchasing an additional 550 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in Celsius during the 1st quarter valued at $32,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Celsius by 255.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,044 shares of the company's stock valued at $37,000 after purchasing an additional 750 shares during the last quarter. Knuff & Co LLC acquired a new stake in Celsius during the 4th quarter valued at $50,000. Finally, UMB Bank n.a. lifted its holdings in Celsius by 145.0% during the 1st quarter. UMB Bank n.a. now owns 1,426 shares of the company's stock valued at $51,000 after purchasing an additional 844 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Celsius from a "hold" rating to a "sell" rating in a report on Saturday. Needham & Company LLC reiterated a "buy" rating and issued a $47.00 price objective on shares of Celsius in a research note on Thursday, May 29th. Piper Sandler increased their target price on shares of Celsius from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Wells Fargo & Company increased their price target on Celsius from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $52.00 price objective (up from $46.00) on shares of Celsius in a report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.18.

Insider Buying and Selling at Celsius

In other news, major shareholder William H. Milmoe sold 300,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $47.27, for a total transaction of $14,181,000.00. Following the transaction, the insider owned 18,017,770 shares of the company's stock, valued at $851,699,987.90. This represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Fieldly sold 130,803 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $45.00, for a total value of $5,886,135.00. Following the sale, the chief executive officer owned 1,038,577 shares of the company's stock, valued at approximately $46,735,965. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 562,974 shares of company stock worth $25,758,418. 2.55% of the stock is currently owned by insiders.

Celsius Trading Up 1.1%

CELH traded up $0.51 during trading on Wednesday, reaching $46.10. 3,490,181 shares of the company's stock were exchanged, compared to its average volume of 8,119,229. Celsius Holdings Inc. has a one year low of $21.10 and a one year high of $60.70. The firm has a fifty day moving average price of $40.30 and a two-hundred day moving average price of $33.20. The stock has a market capitalization of $11.88 billion, a PE ratio of 144.07, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45.

Celsius (NASDAQ:CELH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Celsius had a return on equity of 42.12% and a net margin of 8.40%. The business had revenue of $329.28 million during the quarter, compared to the consensus estimate of $349.09 million. During the same period in the prior year, the firm earned $0.27 EPS. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts expect that Celsius Holdings Inc. will post 0.89 earnings per share for the current year.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.