Simplicity Wealth LLC Takes $319,000 Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Simplicity Wealth LLC acquired a new position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,415 shares of the company's stock, valued at approximately $319,000.

Several other hedge funds have also recently bought and sold shares of the business. Coppell Advisory Solutions LLC increased its position in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Vita Coco in the 4th quarter worth about $66,000. Summit Investment Advisors Inc. increased its holdings in shares of Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after acquiring an additional 347 shares during the last quarter. IHT Wealth Management LLC acquired a new position in shares of Vita Coco during the 4th quarter valued at about $216,000. Finally, Entropy Technologies LP acquired a new position in shares of Vita Coco during the 4th quarter valued at about $220,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on COCO shares. Stephens restated an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Wells Fargo & Company raised their price objective on Vita Coco from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Evercore ISI raised their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Vita Coco has a consensus rating of "Moderate Buy" and a consensus target price of $35.88.

Insider Activity at Vita Coco

In other news, Chairman Michael Kirban sold 6,000 shares of Vita Coco stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the completion of the sale, the chairman now directly owns 1,663,049 shares of the company's stock, valued at approximately $58,206,715. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Beverages Sa Verlinvest sold 3,766,762 shares of Vita Coco stock in a transaction on Friday, May 9th. The shares were sold at an average price of $34.25, for a total value of $129,011,598.50. Following the completion of the sale, the insider now directly owns 7,097,161 shares of the company's stock, valued at $243,077,764.25. This trade represents a 34.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,834,762 shares of company stock valued at $131,460,779 in the last three months. Corporate insiders own 32.30% of the company's stock.

Vita Coco Price Performance

Shares of Vita Coco stock traded down $0.72 during midday trading on Friday, hitting $33.06. 352,212 shares of the company were exchanged, compared to its average volume of 614,057. The firm has a 50 day simple moving average of $33.34 and a 200-day simple moving average of $34.74. The Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32. The firm has a market cap of $1.88 billion, a P/E ratio of 33.39, a PEG ratio of 2.25 and a beta of 0.39.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $130.92 million during the quarter, compared to analysts' expectations of $125.64 million. During the same period last year, the firm posted $0.24 EPS. The business's revenue was up 17.2% on a year-over-year basis. Equities research analysts expect that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

About Vita Coco

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.