Verition Fund Management LLC Sells 10,693 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Verition Fund Management LLC trimmed its stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 58.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,686 shares of the company’s stock after selling 10,693 shares during the quarter. Verition Fund Management LLC’s holdings in Vita Coco were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COCO. Harbor Capital Advisors Inc. grew its holdings in Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock valued at $9,668,000 after buying an additional 200,940 shares in the last quarter. Raymond James & Associates purchased a new position in Vita Coco during the third quarter valued at approximately $3,990,000. Woodson Capital Management LP bought a new stake in Vita Coco during the 3rd quarter worth approximately $19,224,000. American Century Companies Inc. lifted its stake in Vita Coco by 42.2% in the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock worth $2,232,000 after purchasing an additional 23,761 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Vita Coco by 106.4% in the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of Vita Coco stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $35.85, for a total value of $179,250.00. Following the transaction, the chief executive officer now directly owns 452,452 shares of the company’s stock, valued at $16,220,404.20. The trade was a 1.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Burth sold 905 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total value of $27,186.20. Following the sale, the chief operating officer now directly owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,425 shares of company stock valued at $3,550,567. 34.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COCO has been the topic of a number of recent analyst reports. Bank of America increased their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Craig Hallum boosted their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Vita Coco Price Performance

NASDAQ:COCO opened at $36.72 on Monday. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $37.88. The business has a 50 day moving average of $33.12 and a 200 day moving average of $29.25. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The company had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current 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.