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

Granahan Investment Management LLC lowered its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 69.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,419 shares of the company’s stock after selling 454,013 shares during the quarter. Granahan Investment Management LLC owned approximately 0.36% of Vita Coco worth $7,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wasatch Advisors LP increased its position 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 acquiring an additional 427,871 shares in the last quarter. Bank of America Corp DE grew its position in Vita Coco by 382.2% during the 4th 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 in the last quarter. Driehaus Capital Management LLC raised its stake in Vita Coco by 77.3% during the 4th 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 during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Vita Coco in the fourth quarter valued at $10,715,000. Finally, Raymond James Financial Inc. acquired a new stake 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.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COCO. The Goldman Sachs Group set a $41.00 price target on shares of Vita Coco and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Stephens reissued an “equal weight” rating and set a $32.00 target price on shares of Vita Coco in a research note on Thursday, March 27th. Evercore ISI upped their price target on shares of 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 reduced their price objective on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.38.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the transaction, the chief operating officer now directly owns 94,108 shares of the company’s stock, valued at $3,076,390.52. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chairman now directly owns 2,006,229 shares of the company’s stock, valued at $69,355,336.53. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $33.27 on Friday. The business’s 50-day simple moving average is $32.29 and its 200-day simple moving average is $34.50. The Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 2.25 and a beta of 0.38.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $130.92 million for the quarter, compared to the consensus estimate of $125.64 million. During the same quarter last year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

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.