Vita Coco (NASDAQ:COCO) Insider Sells $599,270.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 8,561 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $70.00, for a total value of $599,270.00. Following the sale, the insider owned 67,130 shares of the company’s stock, valued at $4,699,100. This trade represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Es Charles Van also recently made the following trade(s):

• On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $66.87, for a total value of $133,740.00.
• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $48.67, for a total value of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total transaction of $115,960.00.

Vita Coco Stock Performance

COCO stock opened at $74.77 on Thursday. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $76.35. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 54.58, a PEG ratio of 1.79 and a beta of 0.72. The firm has a 50-day simple moving average of $54.91 and a two-hundred day simple moving average of $52.86.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 37.4% compared to the same quarter last year. As a group, equities analysts predict that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after acquiring an additional 227 shares during the period. CWM LLC lifted its position in Vita Coco by 18.2% during the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after acquiring an additional 232 shares during the period. Mariner LLC grew its stake in Vita Coco by 2.8% during the 3rd quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Vita Coco by 0.9% in the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after purchasing an additional 298 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Vita Coco by 4.1% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after purchasing an additional 489 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th. Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Wells Fargo & Company upped their target price on Vita Coco from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price target on shares of Vita Coco in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $65.00 price target on Vita Coco in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.