Wells Fargo & Company Cuts Vita Coco (NASDAQ:COCO) Price Target to $39.00

Vita Coco (NASDAQ:COCO) had its target price reduced by Wells Fargo & Company from $40.00 to $39.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America boosted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a research report on Monday, January 27th. Finally, Craig Hallum lifted their price objective on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Vita Coco Trading Up 0.7 %

COCO stock opened at $32.44 on Thursday. Vita Coco has a 52 week low of $23.00 and a 52 week high of $40.32. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 2.25 and a beta of 0.30. The firm’s 50-day moving average is $36.61 and its two-hundred day moving average is $32.70.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 1,723 shares of Vita Coco stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $40.02, for a total value of $68,954.46. Following the transaction, the director now directly owns 812,579 shares of the company’s stock, valued at $32,519,411.58. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jonathan Burth sold 700 shares of Vita Coco 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 transaction, the chief operating officer now directly owns 104,108 shares in the company, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,270 shares of company stock valued at $4,309,019 over the last ninety days. Corporate insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Coppell Advisory Solutions LLC grew its position in Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Vita Coco during the fourth quarter valued at approximately $52,000. Venturi Wealth Management LLC purchased a new position in Vita Coco during the fourth quarter valued at approximately $66,000. Finally, Quest Partners LLC lifted its stake in Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.