Cubist Systematic Strategies LLC Invests $3.97 Million in The Vita Coco Company, Inc. (NASDAQ:COCO)

Cubist Systematic Strategies LLC bought a new stake in shares of The Vita Coco Company, Inc. (NASDAQ:COCO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 107,566 shares of the company’s stock, valued at approximately $3,970,000. Cubist Systematic Strategies LLC owned 0.19% of Vita Coco at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Investment Advisors Inc. grew its holdings in shares of Vita Coco by 9.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after purchasing an additional 347 shares during the last quarter. GAMMA Investing LLC grew its holdings in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC increased its position in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares during the period. Moran Wealth Management LLC raised its stake in shares of Vita Coco by 4.8% during the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock valued at $704,000 after acquiring an additional 871 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Vita Coco by 1.3% during the fourth quarter. Jane Street Group LLC now owns 82,108 shares of the company’s stock worth $3,031,000 after purchasing an additional 1,078 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Vita Coco Price Performance

NASDAQ:COCO opened at $33.27 on Friday. The firm’s 50-day moving average price is $32.29 and its 200-day moving average price is $34.50. The company has a market capitalization of $1.89 billion, a PE ratio of 33.61, a P/E/G ratio of 2.25 and a beta of 0.38. The Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32.

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 analysts’ consensus estimates of $0.22 by $0.09. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business had revenue of $130.92 million for the quarter, compared to analysts’ expectations of $125.64 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. Equities analysts anticipate that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other news, Director Ira Liran sold 20,235 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the transaction, the director now owns 814,302 shares in the company, valued at approximately $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jonathan Burth sold 10,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.69, for a total transaction of $326,900.00. Following the sale, the chief operating officer now owns 94,108 shares in the company, valued at approximately $3,076,390.52. The trade was a 9.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,358 shares of company stock valued at $2,865,456 in the last 90 days. Corporate insiders own 34.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COCO shares. Stephens restated an “equal weight” rating and set a $32.00 price target on shares of Vita Coco in a report on Thursday, March 27th. Evercore ISI boosted their target price on Vita Coco from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $35.38.

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.