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

DAVENPORT & Co LLC reduced its stake in shares of Celsius Holdings Inc. (NASDAQ:CELH - Free Report) by 62.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds also recently added to or reduced their stakes in CELH. Champlain Investment Partners LLC purchased a new stake in Celsius in the fourth quarter worth about $85,068,000. Contrarius Group Holdings Ltd purchased a new stake in shares of Celsius during the fourth quarter valued at about $75,535,000. Norges Bank purchased a new stake in shares of Celsius during the fourth quarter valued at about $72,579,000. Alyeska Investment Group L.P. lifted its position in shares of Celsius by 60.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company's stock valued at $181,164,000 after buying an additional 2,591,345 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Celsius during the fourth quarter valued at about $61,160,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder William H. Milmoe sold 300,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 18,017,770 shares of the company's stock, valued at $851,699,987.90. This trade represents a 1.64% decrease in their position. The sale 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 firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $45.00, for a total transaction of $5,886,135.00. Following the sale, the chief executive officer directly owned 1,038,577 shares in the company, valued at $46,735,965. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 562,974 shares of company stock worth $25,758,418 in the last ninety days. Corporate insiders own 2.55% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CELH shares. Piper Sandler increased their price target on shares of Celsius from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. LADENBURG THALM/SH SH decreased their price target on shares of Celsius from $62.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Truist Financial increased their price target on shares of Celsius from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Needham & Company LLC increased their price target on shares of Celsius from $47.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday. Finally, UBS Group upped their price objective on shares of Celsius from $43.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Celsius has a consensus rating of "Moderate Buy" and a consensus target price of $45.65.

Celsius Price Performance

NASDAQ:CELH traded down $0.09 during midday trading on Friday, hitting $45.09. The company's stock had a trading volume of 4,514,261 shares, compared to its average volume of 8,100,900. Celsius Holdings Inc. has a fifty-two week low of $21.10 and a fifty-two week high of $60.70. The firm's 50 day moving average is $40.94 and its 200-day moving average is $33.54. The firm has a market cap of $11.62 billion, a P/E ratio of 140.91, a P/E/G ratio of 1.64 and a beta of 1.45.

Celsius (NASDAQ:CELH - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $329.28 million during the quarter, compared to analyst estimates of $349.09 million. Celsius had a return on equity of 42.12% and a net margin of 8.40%. Celsius's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. As a group, analysts forecast that Celsius Holdings Inc. will post 0.89 EPS for the current year.

Celsius Company Profile

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.