Simplicity Wealth LLC Buys Shares of 10,415 The Vita Coco Company, Inc. (NASDAQ:COCO)

Simplicity Wealth LLC bought a new stake in The Vita Coco Company, Inc. (NASDAQ:COCO) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 10,415 shares of the company’s stock, valued at approximately $319,000.

Several other large investors also recently bought and sold shares of the company. Wasatch Advisors LP lifted its holdings in shares of Vita Coco by 17.8% in the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock valued at $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Vita Coco by 382.2% in the fourth quarter. Bank of America Corp DE now owns 512,120 shares of the company’s stock valued at $18,902,000 after purchasing an additional 405,913 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Vita Coco by 77.3% in the fourth quarter. Driehaus Capital Management LLC now owns 854,617 shares of the company’s stock valued at $31,544,000 after purchasing an additional 372,633 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Vita Coco in the fourth quarter valued at about $10,715,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Vita Coco in the fourth quarter worth $7,985,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Up 1.8%

COCO stock opened at $33.78 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’s fifty day simple moving average is $33.34 and its 200-day simple moving average is $34.74. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39.

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

Insider Transactions at Vita Coco

In other news, Chairman Michael Kirban sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the sale, the chairman now directly owns 1,663,049 shares in the company, valued at $58,206,715. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Zupo sold 8,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $34.77, for a total value of $278,160.00. Following the sale, the director now owns 8,876 shares of the company’s stock, valued at approximately $308,618.52. The trade was a 47.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,834,762 shares of company stock worth $131,460,779 in the last three months. Company insiders own 32.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COCO. Stephens reissued an “equal weight” rating and issued a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th. Wall Street Zen cut Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Wells Fargo & Company boosted their price target on Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, Evercore ISI lifted their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.88.

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.