Vita Coco Company, Inc. $COCO Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lowered its holdings in Vita Coco Company, Inc. (NASDAQ:COCO) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,530 shares of the company’s stock after selling 24,198 shares during the period. Summit Creek Advisors LLC’s holdings in Vita Coco were worth $12,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Voya Investment Management LLC lifted its holdings in shares of Vita Coco by 3,376.9% during the 1st quarter. Voya Investment Management LLC now owns 586,969 shares of the company’s stock valued at $17,991,000 after acquiring an additional 570,087 shares in the last quarter. Marshall Wace LLP purchased a new position in Vita Coco in the second quarter valued at about $9,627,000. Capricorn Fund Managers Ltd acquired a new position in shares of Vita Coco during the second quarter worth about $5,054,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Vita Coco in the second quarter worth about $4,385,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Vita Coco by 1,181.7% in the second quarter. BNP Paribas Financial Markets now owns 112,291 shares of the company’s stock valued at $4,054,000 after buying an additional 103,530 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 0.4%

Vita Coco stock opened at $54.97 on Monday. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $56.15. The stock has a market cap of $3.13 billion, a P/E ratio of 47.80, a price-to-earnings-growth ratio of 1.56 and a beta of 0.38. The stock has a 50 day moving average of $50.56 and a 200-day moving average of $42.51.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. Vita Coco had a net margin of 11.35% and a return on equity of 25.08%. The firm had revenue of $182.31 million for the quarter, compared to analysts’ expectations of $154.96 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. As a group, equities analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group boosted their price target on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research note on Monday, December 29th. Evercore ISI boosted their target price on shares of Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Wall Street Zen upgraded shares of Vita Coco from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, Wells Fargo & Company lifted their price target on shares of Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Insiders Place Their Bets

In other news, Director John Zupo sold 10,000 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $43.72, for a total transaction of $437,200.00. Following the transaction, the director owned 12,162 shares of the company’s stock, valued at approximately $531,722.64. This trade represents a 45.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Es Charles Van sold 20,000 shares of Vita Coco stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. Following the completion of the transaction, the insider owned 84,328 shares of the company’s stock, valued at $4,216,400. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 349,153 shares of company stock worth $16,297,267. Company insiders own 34.20% of the company’s stock.

About Vita Coco

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.