Allspring Global Investments Holdings LLC Sells 150,351 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Allspring Global Investments Holdings LLC lowered its holdings in The Vita Coco Company, Inc. (NASDAQ:COCOFree Report) by 82.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,481 shares of the company’s stock after selling 150,351 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Vita Coco worth $769,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COCO. Headinvest LLC bought a new stake in shares of Vita Coco in the 3rd quarter valued at about $29,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Vita Coco in the 4th quarter worth approximately $60,000. PNC Financial Services Group Inc. grew its position in shares of Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of Vita Coco by 7.0% in the 4th quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock worth $243,000 after buying an additional 619 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Vita Coco in the 3rd quarter worth approximately $305,000. Institutional investors own 88.49% of the company’s stock.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 6,836 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $30.04, for a total value of $205,353.44. Following the sale, the chief operating officer now owns 127,168 shares in the company, valued at $3,820,126.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Es Charles Van sold 6,700 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $30.04, for a total value of $201,268.00. Following the sale, the insider now owns 97,668 shares in the company, valued at $2,933,946.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Burth sold 6,836 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.04, for a total transaction of $205,353.44. Following the completion of the sale, the chief operating officer now owns 127,168 shares in the company, valued at approximately $3,820,126.72. The disclosure for this sale can be found here. Insiders have sold 27,502 shares of company stock worth $814,205 over the last 90 days. 34.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Vita Coco in a research report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.67.

Read Our Latest Analysis on Vita Coco

Vita Coco Trading Up 0.9 %

NASDAQ:COCO opened at $28.52 on Tuesday. The company has a market cap of $1.62 billion, a PE ratio of 31.00, a P/E/G ratio of 1.78 and a beta of 0.23. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $33.29. The company’s 50 day moving average is $27.60 and its two-hundred day moving average is $25.10.

Vita Coco (NASDAQ:COCOGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. Vita Coco’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS. As a group, analysts expect that The Vita Coco Company, Inc. will post 1.04 EPS for the current fiscal year.

Vita Coco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vita Coco (NASDAQ:COCO)

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