Granahan Investment Management LLC Decreases Position in The Vita Coco Company, Inc. (NASDAQ:COCO)

Granahan Investment Management LLC decreased its position in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 69.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,419 shares of the company's stock after selling 454,013 shares during the quarter. Granahan Investment Management LLC owned 0.36% of Vita Coco worth $7,471,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company's stock worth $1,969,000 after buying an additional 46,385 shares in the last quarter. GAMMA Investing LLC raised its holdings in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the period. West Coast Financial LLC increased its position in shares of Vita Coco by 1.2% during the fourth quarter. West Coast Financial LLC now owns 91,841 shares of the company's stock valued at $3,390,000 after acquiring an additional 1,109 shares during the last quarter. SG Americas Securities LLC lifted its stake in Vita Coco by 94.2% during the fourth quarter. SG Americas Securities LLC now owns 23,707 shares of the company's stock worth $875,000 after purchasing an additional 11,500 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Vita Coco in the 4th quarter valued at about $52,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COCO has been the topic of a number of analyst reports. Evercore ISI increased their price target on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Stephens restated an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Vita Coco has a consensus rating of "Moderate Buy" and an average target price of $35.38.

Vita Coco Stock Performance

COCO traded up $0.17 during trading on Thursday, reaching $34.16. The company's stock had a trading volume of 208,347 shares, compared to its average volume of 614,765. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The company's fifty day moving average price is $32.31 and its 200-day moving average price is $34.58. 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 announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $125.64 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. Vita Coco's quarterly revenue was up 17.2% on a year-over-year basis. Equities analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Activity

In other news, COO Jonathan Burth sold 700 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the transaction, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at $4,190,347. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Michael Kirban sold 20,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the transaction, the chairman now owns 2,006,229 shares of the company's stock, valued at $69,355,336.53. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,853,420 shares of company stock worth $132,127,204 in the last 90 days. 32.30% of the stock is currently owned by corporate insiders.

Vita Coco 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.