Commerce Bank Sells 325 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO)

Commerce Bank cut its stake in The Vita Coco Company, Inc. (NASDAQ:COCO) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,315 shares of the company’s stock after selling 325 shares during the quarter. Commerce Bank’s holdings in Vita Coco were worth $264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC grew its stake in shares of Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares in the last quarter. CWM LLC raised its holdings in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after purchasing an additional 787 shares during the last quarter. Quest Partners LLC raised its holdings in Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the last quarter. Comerica Bank raised its holdings in Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after purchasing an additional 3,675 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in Vita Coco during the 2nd quarter worth approximately $141,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Craig Hallum raised their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Vita Coco Price Performance

Shares of COCO opened at $35.62 on Thursday. The firm has a market cap of $2.02 billion, a P/E ratio of 35.98, a P/E/G ratio of 2.37 and a beta of 0.22. The stock has a 50 day simple moving average of $31.33 and a two-hundred day simple moving average of $28.43. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.05.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ira Liran sold 27,176 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the sale, the director now directly owns 883,729 shares of the company’s stock, valued at $31,849,593.16. This trade represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $35.70, for a total value of $178,500.00. Following the sale, the chief executive officer now directly owns 407,152 shares in the company, valued at $14,535,326.40. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,313 shares of company stock worth $1,992,268. 34.20% of the stock is owned by corporate insiders.

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.