Two Sigma Investments LP Has $14.29 Million Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

Two Sigma Investments LP cut its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 21.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,045 shares of the company's stock after selling 103,635 shares during the period. Two Sigma Investments LP owned about 0.68% of Vita Coco worth $14,286,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC grew its stake in Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock worth $47,000 after purchasing an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Vita Coco during the fourth quarter valued at approximately $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco in the fourth quarter worth approximately $66,000. Summit Investment Advisors Inc. grew its position in Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after buying an additional 347 shares during the last quarter. Finally, IHT Wealth Management LLC acquired a new position in Vita Coco in the fourth quarter worth approximately $216,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on COCO. Wells Fargo & Company lowered their price objective on shares of Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Evercore ISI lifted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Stephens reissued an "equal weight" rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has an average rating of "Moderate Buy" and a consensus price target of $35.38.

Insider Transactions at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $35.06, for a total value of $701,200.00. Following the sale, the chairman now directly owns 1,689,049 shares in the company, valued at approximately $59,218,057.94. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jonathan Burth sold 10,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the completion of the sale, the chief operating officer now owns 94,108 shares in the company, valued at approximately $3,076,390.52. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,864,762 shares of company stock worth $132,479,079. Corporate insiders own 32.30% of the company's stock.

Vita Coco Trading Down 2.1%

NASDAQ COCO traded down $0.78 on Wednesday, reaching $35.81. The company's stock had a trading volume of 63,539 shares, compared to its average volume of 753,108. The firm has a market cap of $2.03 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The business has a 50-day moving average price of $32.53 and a 200 day moving average price of $34.80. The Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $130.92 million for the quarter, compared to analysts' expectations of $125.64 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. Analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.