Vita Coco (NASDAQ:COCO) Director Ira Liran Sells 96,158 Shares

Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) Director Ira Liran sold 96,158 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the sale, the director directly owned 476,421 shares in the company, valued at $37,703,957.94. The trade was a 16.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ira Liran also recently made the following trade(s):

  • On Thursday, June 11th, Ira Liran sold 95,768 shares of Vita Coco stock. The shares were sold at an average price of $79.14, for a total transaction of $7,579,079.52.

Vita Coco Stock Up 2.9%

Shares of COCO stock traded up $2.25 during trading hours on Friday, hitting $80.90. 1,462,254 shares of the company’s stock traded hands, compared to its average volume of 1,219,804. The stock’s fifty day simple moving average is $64.31 and its two-hundred day simple moving average is $57.78. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $82.33. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.89 and a beta of 0.74.

Vita Coco (NASDAQ:COCOGet Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The company had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same quarter last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. On average, equities analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after buying an additional 1,174 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Vita Coco during the 2nd quarter valued at approximately $9,627,000. Cerity Partners LLC purchased a new stake in Vita Coco in the 2nd quarter worth approximately $645,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Vita Coco in the 2nd quarter worth approximately $2,990,000. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley set a $65.00 price target on shares of Vita Coco in a research note on Thursday, April 30th. Evercore reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a report on Thursday, March 12th. Weiss Ratings upgraded shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of Vita Coco in a report on Thursday, April 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $70.00 price target on shares of Vita Coco in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.43.

Get Our Latest Stock Report on Vita Coco

About Vita Coco

(Get Free Report)

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.

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