Vita Coco (NASDAQ:COCO) COO Sells $1,400,000.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 20,000 shares of the firm’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 $1,400,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at $4,053,700. The trade was a 25.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Burth also recently made the following trade(s):

• On Thursday, April 30th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The stock was sold at an average price of $67.50, for a total value of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00.
• On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The shares were sold at an average price of $58.65, for a total value of $3,519,000.00.

Vita Coco Price Performance

NASDAQ COCO traded up $0.86 during midday trading on Monday, hitting $72.46. 1,258,927 shares of the company traded hands, compared to its average volume of 1,265,010. The company has a market cap of $4.14 billion, a PE ratio of 52.89, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. The company’s 50-day simple moving average is $53.54 and its 200-day simple moving average is $51.94. Vita Coco Company, Inc. has a 52 week low of $31.79 and a 52 week high of $72.98.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. The business had revenue of $179.77 million for the quarter, compared to analysts’ expectations of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The business’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. On average, research analysts predict that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COCO shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Wall Street Zen raised Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Jefferies Financial Group raised their price objective on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COCO. Wasatch Advisors LP raised its stake in Vita Coco by 80.3% in the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after acquiring an additional 1,637,437 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Vita Coco in the 3rd quarter worth $62,815,000. Wellington Management Group LLP raised its stake in Vita Coco by 232.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,992,404 shares of the company’s stock worth $84,617,000 after acquiring an additional 1,392,678 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Vita Coco in the 4th quarter worth $73,242,000. Finally, Westfield Capital Management Co. LP purchased a new position in Vita Coco in the 3rd quarter worth $45,135,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About Vita Coco

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.