ProShare Advisors LLC Has $79.34 Million Stake in Monster Beverage Corporation $MNST

ProShare Advisors LLC lowered its stake in Monster Beverage Corporation (NASDAQ:MNST) by 18.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,178,710 shares of the company’s stock after selling 269,548 shares during the quarter. ProShare Advisors LLC owned 0.12% of Monster Beverage worth $79,339,000 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. Exchange Traded Concepts LLC grew its stake in shares of Monster Beverage by 222.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock worth $3,385,000 after acquiring an additional 34,697 shares in the last quarter. Prudential PLC boosted its holdings in Monster Beverage by 76.4% during the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after purchasing an additional 47,165 shares during the last quarter. VestGen Advisors LLC boosted its holdings in Monster Beverage by 449.4% during the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock worth $1,376,000 after purchasing an additional 17,974 shares during the last quarter. Perigon Wealth Management LLC grew its position in Monster Beverage by 87.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock worth $2,163,000 after purchasing an additional 15,029 shares in the last quarter. Finally, ABN AMRO Bank N.V. purchased a new stake in Monster Beverage in the 3rd quarter valued at about $59,170,000. 72.36% of the stock is owned by institutional investors.

Insider Activity at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the sale, the insider owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emelie Tirre sold 30,000 shares of Monster Beverage stock in a transaction on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the completion of the transaction, the insider owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 274,981 shares of company stock worth $20,138,516. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Stock Performance

MNST stock opened at $80.90 on Tuesday. The stock has a fifty day moving average of $77.62 and a 200-day moving average of $70.36. Monster Beverage Corporation has a fifty-two week low of $46.57 and a fifty-two week high of $83.24. The company has a market capitalization of $79.04 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 2.14 and a beta of 0.45.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup restated a “buy” rating and issued a $90.00 target price (up previously from $87.00) on shares of Monster Beverage in a research note on Wednesday, January 14th. Wall Street Zen upgraded Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Jefferies Financial Group restated a “buy” rating and issued a $79.00 price objective on shares of Monster Beverage in a research note on Tuesday, November 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $81.00 target price (up from $75.00) on shares of Monster Beverage in a research report on Monday, December 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Fourteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.71.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.