PDT Partners LLC Increases Stake in The Vita Coco Company, Inc. (NASDAQ:COCO)

PDT Partners LLC raised its position in The Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 69.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,498 shares of the company's stock after purchasing an additional 11,260 shares during the quarter. PDT Partners LLC's holdings in Vita Coco were worth $1,015,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COCO. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Vita Coco in the fourth quarter worth approximately $746,000. Northern Trust Corp lifted its position in shares of Vita Coco by 8.2% during the fourth quarter. Northern Trust Corp now owns 411,173 shares of the company's stock worth $15,176,000 after purchasing an additional 31,050 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Vita Coco by 21.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 558,008 shares of the company's stock valued at $20,596,000 after purchasing an additional 97,592 shares during the period. Oberweis Asset Management Inc. grew its holdings in shares of Vita Coco by 39.7% in the fourth quarter. Oberweis Asset Management Inc. now owns 231,500 shares of the company's stock worth $8,545,000 after purchasing an additional 65,800 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of 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 during the last quarter. Institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on COCO shares. Stephens reissued an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group increased their price objective on Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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 report on Thursday, February 27th. Finally, Evercore ISI increased their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday. 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 MarketBeat, Vita Coco presently has an average rating of "Moderate Buy" and an average price target of $35.00.

Insider Buying and Selling

In other news, COO Jonathan Burth sold 10,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the completion of the transaction, the chief operating officer now directly owns 94,108 shares in the company, valued at $3,076,390.52. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Michael Kirban sold 6,000 shares of Vita Coco stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $210,000.00. Following the sale, the chairman now directly owns 1,663,049 shares of the company's stock, valued at $58,206,715. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,358 shares of company stock worth $2,865,456 in the last 90 days. Insiders own 34.20% of the company's stock.

Vita Coco Trading Up 2.2 %

Shares of COCO traded up $0.74 during trading hours on Friday, hitting $34.21. The company had a trading volume of 709,457 shares, compared to its average volume of 598,970. The Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The company has a market capitalization of $1.95 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The company's fifty day moving average price is $32.11 and its two-hundred day moving average price is $34.35.

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 company 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%. Vita Coco's revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. Analysts forecast 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.