Vita Coco Company, Inc. (NASDAQ:COCO) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC reduced its stake in Vita Coco Company, Inc. (NASDAQ:COCO) by 52.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,496 shares of the company’s stock after selling 3,887 shares during the period. Penserra Capital Management LLC’s holdings in Vita Coco were worth $107,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC grew its stake in shares of 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 acquiring an additional 613 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Vita Coco by 9.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock valued at $152,000 after acquiring an additional 347 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Vita Coco during the fourth quarter valued at about $216,000. Goldstone Financial Group LLC acquired a new stake in shares of Vita Coco during the first quarter valued at about $231,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Vita Coco during the fourth quarter valued at about $291,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COCO has been the subject of several recent analyst reports. Wall Street Zen downgraded Vita Coco from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Stephens restated an “equal weight” rating and set a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a “buy” rating in a research note on Wednesday, April 30th. Evercore ISI lifted their price target on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price target on Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Vita Coco Stock Performance

NASDAQ:COCO opened at $37.06 on Friday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.37. Vita Coco Company, Inc. has a one year low of $23.56 and a one year high of $40.32. The stock has a 50-day simple moving average of $35.44 and a 200 day simple moving average of $34.73.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The company had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same period in the previous year, the firm posted $0.24 earnings per share. Vita Coco’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $37.07, for a total value of $741,400.00. Following the completion of the transaction, the chairman directly owned 1,643,049 shares in the company, valued at $60,907,826.43. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Es Charles Van sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the sale, the insider directly owned 94,127 shares in the company, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,842,662 shares of company stock valued at $131,786,970 over the last 90 days. 32.30% of the stock is owned by corporate insiders.

Vita Coco 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.