Renaissance Technologies LLC purchased a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,400 shares of the company's stock, valued at approximately $458,000.
Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Vita Coco by 84.9% in the fourth 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 last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco in the 4th quarter valued at about $52,000. Venturi Wealth Management LLC acquired a new position in Vita Coco during the 4th quarter valued at about $66,000. Entropy Technologies LP acquired a new stake in shares of Vita Coco in the fourth quarter valued at approximately $220,000. Finally, Catalina Capital Group LLC bought a new stake in shares of Vita Coco during the fourth quarter valued at approximately $248,000. 88.49% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Ira Liran sold 20,235 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.07, for a total value of $810,816.45. Following the transaction, the director now owns 814,302 shares in the company, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $28,175.00. Following the completion of the sale, the chief operating officer now directly owns 104,108 shares of the company's stock, valued at $4,190,347. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,358 shares of company stock worth $2,865,456. 34.20% of the stock is owned by corporate insiders.
Vita Coco Stock Performance
Shares of NASDAQ:COCO traded down $1.58 during midday trading on Friday, reaching $33.43. The company had a trading volume of 796,022 shares, compared to its average volume of 601,728. The company has a fifty day simple moving average of $32.29 and a two-hundred day simple moving average of $34.47. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32.
Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results 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 business had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.
Analyst Ratings Changes
COCO has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a 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. Stephens reiterated an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.38.
Check Out Our Latest Research Report on COCO
Vita Coco Profile
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Free Report)
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.
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