Insider Selling: Vita Coco (NASDAQ:COCO) Director Sells 15,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Jane Cecil Morreau sold 15,000 shares of Vita Coco stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.91, for a total transaction of $808,650.00. Following the sale, the director owned 17,179 shares in the company, valued at $926,119.89. This represents a 46.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vita Coco Stock Performance

Shares of COCO stock traded up $1.62 during mid-day trading on Tuesday, reaching $55.24. The company’s stock had a trading volume of 1,062,584 shares, compared to its average volume of 950,636. The firm’s 50-day moving average is $54.29 and its two-hundred day moving average is $46.46. The company has a market cap of $3.15 billion, a P/E ratio of 46.81, a PEG ratio of 1.72 and a beta of 0.38. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $59.88.

Vita Coco (NASDAQ:COCO) last released 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). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COCO. Caitong International Asset Management Co. Ltd increased its holdings in shares of Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after acquiring an additional 501 shares in the last quarter. Clearstead Advisors LLC grew its position in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the period. Quarry LP increased its stake in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares in the last quarter. MAI Capital Management bought a new stake in Vita Coco during the 2nd quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COCO shares. Piper Sandler boosted their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Evercore reaffirmed an “outperform” rating and set a $58.00 price target on shares of Vita Coco in a research note on Thursday, February 19th. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wells Fargo & Company lifted their price objective on Vita Coco from $50.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Jefferies Financial Group upped their target price on shares of Vita Coco from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.88.

Vita Coco Company 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.