Vita Coco Company, Inc. $COCO Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC reduced its stake in Vita Coco by 74.1%, owning just 52,337 shares worth approximately $1.6 million after selling 150,082 shares.
• Several institutional investors adjusted their positions in Vita Coco, with Invesco Ltd. increasing its stake by 398.5% and Wellington Management Group boosting its holdings by 102.2%.
• Analysts have mixed opinions on the stock, with Wall Street Zen downgrading it to a "hold" while others set a target price increase, leading to a consensus rating of "Moderate Buy."

Granahan Investment Management LLC lessened its stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 74.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,337 shares of the company's stock after selling 150,082 shares during the quarter. Granahan Investment Management LLC owned approximately 0.09% of Vita Coco worth $1,604,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock worth $18,902,000 after buying an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Vita Coco by 77.3% during the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company's stock valued at $31,544,000 after acquiring an additional 372,633 shares in the last quarter. Wellington Management Group LLP lifted its stake in Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock worth $15,676,000 after acquiring an additional 258,521 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Vita Coco by 62.2% during the 1st quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock valued at $19,776,000 after purchasing an additional 247,339 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Vita Coco in the fourth quarter worth about $3,970,000. Institutional investors own 88.49% of the company's stock.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded down $0.21 during trading on Thursday, hitting $38.33. The company had a trading volume of 251,790 shares, compared to its average volume of 735,280. The stock has a 50 day simple moving average of $36.13 and a 200 day simple moving average of $34.46. Vita Coco Company, Inc. has a 12 month low of $25.79 and a 12 month high of $40.32. The firm has a market capitalization of $2.18 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 2.04 and a beta of 0.36.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. Vita Coco's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. As a group, analysts predict that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on COCO shares. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Wells Fargo & Company upped their price target on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley raised their price objective on Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Piper Sandler raised shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.38.

Insider Transactions at Vita Coco

In other news, insider Es Charles Van sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $38.02, for a total transaction of $380,200.00. Following the transaction, the insider directly owned 94,127 shares of the company's stock, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Corey Baker sold 1,000 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $38.51, for a total value of $38,510.00. Following the transaction, the chief financial officer owned 41,754 shares in the company, valued at approximately $1,607,946.54. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,800 shares of company stock worth $2,201,536 in the last quarter. Company insiders own 32.30% of the company's stock.

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.