Vita Coco Company Inc (The)’s (NASDAQ:COCO) Lock-Up Period Will End on April 19th

Vita Coco’s (NASDAQ:COCOGet Rating) lock-up period will expire on Tuesday, April 19th. Vita Coco had issued 11,500,000 shares in its initial public offering on October 21st. The total size of the offering was $172,500,000 based on an initial share price of $15.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

A number of equities research analysts recently issued reports on COCO shares. Wells Fargo & Company reduced their price target on Vita Coco from $15.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, March 11th. Credit Suisse Group cut their target price on Vita Coco from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. The Goldman Sachs Group cut their target price on Vita Coco from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, April 4th. Finally, Bank of America cut Vita Coco from a “buy” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $10.00 in a research note on Monday, March 14th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.43.

Shares of COCO opened at $9.67 on Friday. Vita Coco has a 52 week low of $7.51 and a 52 week high of $18.61. The firm has a fifty day moving average price of $10.00.

Vita Coco (NASDAQ:COCOGet Rating) last announced its quarterly earnings results on Thursday, March 10th. The company reported ($0.06) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.06). On average, sell-side analysts predict that Vita Coco will post 0.35 earnings per share for the current fiscal year.

In related news, Director Kenneth Sadowsky bought 10,000 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average cost of $7.87 per share, with a total value of $78,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Martin F. Roper bought 50,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were bought at an average cost of $8.45 per share, with a total value of $422,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 85,000 shares of company stock valued at $727,700. 7.16% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in COCO. Strs Ohio bought a new position in Vita Coco during the 4th quarter worth $29,000. Lazard Asset Management LLC acquired a new stake in Vita Coco during the 4th quarter worth about $44,000. Citigroup Inc. acquired a new stake in Vita Coco during the 4th quarter worth about $45,000. JPMorgan Chase & Co. acquired a new stake in Vita Coco during the 4th quarter worth about $47,000. Finally, California State Teachers Retirement System acquired a new stake in Vita Coco during the 4th quarter worth about $67,000. 1.86% of the stock is owned by institutional investors and hedge funds.

Vita Coco Company Profile (Get Rating)

THE VITA COCO COMPANY provides beverage platform. The company’s brands include coconut water, Vita Coco; clean energy drink Runa; sustainable enhanced water, Ever & Ever and protein-infused water, PWR LIFT. THE VITA COCO COMPANY is based in NEW YORK.

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