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

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

A number of other institutional investors have also added to or reduced their stakes in CELH. Vanguard Group Inc. increased its position in Celsius by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 15,813,110 shares of the company's stock valued at $416,517,000 after acquiring an additional 345,837 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Celsius by 11.2% in the 4th quarter. Alliancebernstein L.P. now owns 14,292,123 shares of the company's stock valued at $376,455,000 after purchasing an additional 1,444,020 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Celsius by 60.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 6,877,918 shares of the company's stock valued at $181,164,000 after purchasing an additional 2,591,345 shares during the last quarter. FMR LLC boosted its stake in shares of Celsius by 64.2% in the 4th quarter. FMR LLC now owns 4,055,148 shares of the company's stock valued at $106,813,000 after purchasing an additional 1,585,839 shares during the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in shares of Celsius in the 4th quarter valued at $85,068,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Celsius Trading Down 2.0%

Shares of Celsius stock traded down $0.92 during trading on Thursday, hitting $45.18. The stock had a trading volume of 4,262,084 shares, compared to its average volume of 8,115,236. Celsius Holdings Inc. has a 12 month low of $21.10 and a 12 month high of $60.70. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 141.19, a P/E/G ratio of 1.64 and a beta of 1.45. The business's 50-day moving average is $40.53 and its 200 day moving average is $33.29.

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

Wall Street Analyst Weigh In

CELH has been the topic of a number of analyst reports. TD Cowen raised shares of Celsius from a "hold" rating to a "buy" rating and upped their price objective for the company from $37.00 to $55.00 in a research note on Monday, June 16th. Piper Sandler upped their price objective on shares of Celsius from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. LADENBURG THALM/SH SH reduced their price objective on shares of Celsius from $62.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Truist Financial increased their target price on shares of Celsius from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Needham & Company LLC increased their target price on shares of Celsius from $47.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.65.

Insider Transactions at Celsius

In other news, major shareholder William H. Milmoe sold 300,000 shares of Celsius stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $47.27, for a total transaction of $14,181,000.00. Following the completion of the sale, the insider owned 18,017,770 shares in the company, valued at approximately $851,699,987.90. This trade represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Fieldly sold 130,803 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,038,577 shares in the company, valued at approximately $46,735,965. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 562,974 shares of company stock valued at $25,758,418. Corporate insiders own 2.55% of the company's stock.

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.