Granahan Investment Management LLC Has $7.47 Million Stock Holdings in The Vita Coco Company, Inc. (NASDAQ:COCO)

Granahan Investment Management LLC reduced its holdings in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) by 69.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 202,419 shares of the company’s stock after selling 454,013 shares during the period. Granahan Investment Management LLC’s holdings in Vita Coco were worth $7,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in shares of Vita Coco by 8.4% in the 4th quarter. Deutsche Bank AG now owns 150,343 shares of the company’s stock valued at $5,549,000 after purchasing an additional 11,674 shares during the period. D. E. Shaw & Co. Inc. grew its position in Vita Coco by 6.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company’s stock valued at $41,713,000 after acquiring an additional 64,011 shares during the period. Driehaus Capital Management LLC raised its stake in Vita Coco by 77.3% during the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock worth $31,544,000 after acquiring an additional 372,633 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Vita Coco during the fourth quarter valued at $3,970,000. Finally, Captrust Financial Advisors boosted its stake in shares of Vita Coco by 55.5% in the 4th quarter. Captrust Financial Advisors now owns 33,106 shares of the company’s stock valued at $1,222,000 after purchasing an additional 11,815 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Performance

NASDAQ COCO opened at $33.27 on Friday. The Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32. The stock has a market capitalization of $1.89 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.38. The stock has a fifty day moving average of $32.29 and a 200-day moving average of $34.50.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $130.92 million during the quarter, compared to analyst estimates of $125.64 million. During the same period last year, the company earned $0.24 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. Equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COCO. Stephens reiterated an “equal weight” rating and set a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. Wells Fargo & Company cut their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Evercore ISI increased their price target on Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the company a “buy” rating in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.38.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of Vita Coco stock in a transaction 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 sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $34.57, for a total value of $691,400.00. Following the completion of the transaction, the chairman now directly owns 2,006,229 shares in the company, valued at $69,355,336.53. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,358 shares of company stock worth $2,865,456 over the last ninety days. Company insiders own 34.20% of the company’s stock.

About Vita Coco

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.