216,347 Shares in The Vita Coco Company, Inc. (NASDAQ:COCO) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 216,347 shares of the company's stock, valued at approximately $7,985,000. Raymond James Financial Inc. owned about 0.38% of Vita Coco at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in Vita Coco in the fourth quarter valued at $458,000. Wells Fargo & Company MN grew its holdings in shares of Vita Coco by 6.2% during the fourth quarter. Wells Fargo & Company MN now owns 39,368 shares of the company's stock worth $1,453,000 after purchasing an additional 2,297 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Vita Coco by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 194,798 shares of the company's stock worth $7,190,000 after purchasing an additional 8,565 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Vita Coco by 8.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 43,974 shares of the company's stock worth $1,623,000 after purchasing an additional 3,536 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Vita Coco by 173.2% during the fourth quarter. Wellington Management Group LLP now owns 252,941 shares of the company's stock worth $9,336,000 after purchasing an additional 160,353 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Activity

In other news, COO Jonathan Burth sold 700 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 104,108 shares of the company's stock, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Kirban sold 20,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $34.57, for a total value of $691,400.00. Following the transaction, the chairman now directly owns 2,006,229 shares in the company, valued at $69,355,336.53. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,358 shares of company stock valued at $2,865,456. Company insiders own 34.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on COCO shares. Wells Fargo & Company dropped their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Stephens reaffirmed an "equal weight" rating and set a $32.00 price objective on shares of Vita Coco in a report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their price objective on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.57.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded down $0.70 during trading on Monday, reaching $30.12. The company had a trading volume of 845,390 shares, compared to its average volume of 600,442. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The stock's fifty day moving average price is $32.48 and its 200 day moving average price is $34.28. The Vita Coco Company, Inc. has a fifty-two week low of $23.40 and a fifty-two week high of $40.32.

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.