Night Squared LP Takes $5.19 Million Position in Vita Coco Company, Inc. $COCO

Night Squared LP purchased a new stake in shares of Vita Coco Company, Inc. (NASDAQ:COCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 122,268 shares of the company’s stock, valued at approximately $5,193,000. Vita Coco makes up approximately 1.9% of Night Squared LP’s portfolio, making the stock its 27th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its holdings in Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the period. MAI Capital Management bought a new stake in Vita Coco during the second quarter valued at $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares during the period. Mather Group LLC. bought a new position in shares of Vita Coco in the 3rd quarter worth about $54,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Vita Coco in the 3rd quarter worth about $93,000. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COCO. Evercore reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a research report on Thursday. Piper Sandler raised their target price on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. The Goldman Sachs Group lifted their target price on Vita Coco from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Wells Fargo & Company upped their target price on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

Vita Coco Stock Performance

Vita Coco stock opened at $58.35 on Friday. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $59.88. The company has a 50-day simple moving average of $54.93 and a 200-day simple moving average of $48.38. The firm has a market capitalization of $3.33 billion, a P/E ratio of 49.45, a P/E/G ratio of 1.83 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, sell-side analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the sale, the director owned 572,579 shares of the company’s stock, valued at approximately $32,436,600.35. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the transaction, the director owned 608,266 shares of the company’s stock, valued at approximately $32,797,702.72. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 122,800 shares of company stock worth $6,698,956. 32.30% of the stock is currently owned by corporate insiders.

Vita Coco Profile

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.