Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Sells 5,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $36.24, for a total value of $181,200.00. Following the completion of the transaction, the chief executive officer now directly owns 382,152 shares of the company’s stock, valued at $13,849,188.48. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Vita Coco Trading Down 1.6 %

Shares of Vita Coco stock traded down $0.58 during trading hours on Thursday, hitting $36.04. 365,794 shares of the company were exchanged, compared to its average volume of 609,245. The business has a 50-day moving average of $32.02 and a 200-day moving average of $28.75. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.20. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 36.99, a P/E/G ratio of 2.33 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. As a group, research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Vita Coco

Several hedge funds have recently modified their holdings of the business. Wasatch Advisors LP raised its position in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after acquiring an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new stake in shares of Vita Coco in the third quarter valued at about $19,224,000. Victory Capital Management Inc. boosted its holdings in Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after buying an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Vita Coco during the second quarter worth about $9,859,000. Finally, Vanguard Group Inc. increased its holdings in Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Company Profile

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.