Summit Creek Advisors LLC Sells 62,213 Shares of Vita Coco Company, Inc. (NASDAQ:COCO)

Summit Creek Advisors LLC decreased its position in Vita Coco Company, Inc. (NASDAQ:COCO) by 15.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 339,771 shares of the company’s stock after selling 62,213 shares during the period. Summit Creek Advisors LLC owned about 0.60% of Vita Coco worth $10,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in COCO. Wasatch Advisors LP grew 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 worth $104,414,000 after purchasing an additional 427,871 shares during the last quarter. Bank of America Corp DE grew 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 worth $18,902,000 after purchasing an additional 405,913 shares during the last quarter. Driehaus Capital Management LLC grew 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 worth $31,544,000 after purchasing an additional 372,633 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Vita Coco by 62.2% in the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company’s stock worth $19,776,000 after purchasing an additional 247,339 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Vita Coco in the fourth quarter worth approximately $7,985,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Stock Up 0.4%

NASDAQ:COCO opened at $37.92 on Monday. The stock has a market cap of $2.15 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 2.03 and a beta of 0.37. The firm’s fifty day simple moving average is $36.25 and its 200 day simple moving average is $34.95. Vita Coco Company, Inc. has a twelve month low of $23.56 and a twelve month high of $40.32.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on COCO shares. Wells Fargo & Company raised their target price on shares of Vita Coco from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Wall Street Zen cut shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. The Goldman Sachs Group set a $41.00 target price 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 company an “outperform” rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $37.07, for a total transaction of $741,400.00. Following the completion of the transaction, the chairman owned 1,643,049 shares of the company’s stock, valued at approximately $60,907,826.43. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Zupo sold 8,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $34.77, for a total value of $278,160.00. Following the transaction, the director directly owned 8,876 shares of the company’s stock, valued at $308,618.52. This represents a 47.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,846,562 shares of company stock valued at $131,933,805. Company insiders own 34.20% of the company’s stock.

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.