KLP Kapitalforvaltning AS Makes New $399,000 Investment in The Vita Coco Company, Inc. (NASDAQ:COCO)

KLP Kapitalforvaltning AS purchased a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 10,800 shares of the company’s stock, valued at approximately $399,000.

Several other institutional investors have also recently made changes to their positions in COCO. GAMMA Investing LLC increased its stake in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Vita Coco in the fourth quarter worth approximately $52,000. Venturi Wealth Management LLC purchased a new stake in Vita Coco in the fourth quarter valued at approximately $66,000. Entropy Technologies LP bought a new stake in Vita Coco during the fourth quarter valued at approximately $220,000. Finally, Catalina Capital Group LLC bought a new stake in Vita Coco during the fourth quarter valued at approximately $248,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Up 3.5 %

NASDAQ:COCO opened at $27.94 on Friday. The company has a 50-day moving average price of $35.34 and a 200-day moving average price of $33.97. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 2.25 and a beta of 0.34. The Vita Coco Company, Inc. has a 12 month low of $23.00 and a 12 month high of $40.32.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Bank of America upped their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. The Goldman Sachs Group lifted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Stephens reissued an “equal weight” rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.57.

Insider Activity at Vita Coco

In related news, Director Ira Liran sold 20,235 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the transaction, the director now owns 814,302 shares of the company’s stock, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jonathan Burth sold 700 shares of the company’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 completion of the transaction, the chief operating officer now owns 104,108 shares of the company’s stock, valued at $4,190,347. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,410 shares of company stock valued at $3,017,811 over the last 90 days. Corporate insiders own 34.20% of the company’s stock.

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.