Vita Coco (NASDAQ:COCO) COO Jonathan Burth Sells 40,000 Shares

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 40,000 shares of Vita Coco stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00. Following the completion of the transaction, the chief operating officer owned 57,910 shares of the company’s stock, valued at approximately $3,691,762.50. This trade represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $67.50, for a total value of $1,350,000.00.
• 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 Stock Performance

Shares of NASDAQ COCO opened at $66.75 on Friday. The stock has a market cap of $3.81 billion, a PE ratio of 48.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. Vita Coco Company, Inc. has a fifty-two week low of $30.54 and a fifty-two week high of $69.58. The stock has a fifty day moving average of $52.70 and a 200-day moving average of $51.20.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. The company had revenue of $179.77 million during 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 firm’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. On average, sell-side analysts predict that Vita Coco Company, Inc. will post 1.72 EPS for the current year.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vita Coco by 5.3% during 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 grew its position in Vita Coco by 5,376.0% during the second 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 in the last quarter. Marshall Wace LLP purchased a new position in Vita Coco during the second quarter worth about $9,627,000. Cerity Partners LLC purchased a new position in Vita Coco during the second quarter worth about $645,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vita Coco in the 2nd quarter worth about $2,990,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Vita Coco

Here are the key news stories impacting Vita Coco this week:

• Positive Sentiment: Strong Q1 beat and raised guidance — COCO reported $0.50 EPS and ~ $180M revenue (?+37% YoY), beat estimates, and raised full?year revenue/EBITDA guidance; that print is the main catalyst for the recent rally. Press Release
• Positive Sentiment: Analyst upgrades and higher targets — Wells Fargo raised its price target to $75 and put an Overweight on COCO, and other banks (Goldman, Jefferies, Evercore) have also issued buy/outperform views, reinforcing buy?side interest. Benzinga
• Positive Sentiment: Momentum/quality recognition — COCO was highlighted on Zacks’ momentum list and picked up coverage noting a 95+ composite rating, supporting the growth narrative among momentum investors. Zacks Momentum MSN: 95+ Rating
• Neutral Sentiment: Insider selling (planned 10b5?1 trades) — CEO, COO and Chairman disclosed multiple share sales (large blocks in late April). These trades increase float near recent highs but were executed under pre?arranged 10b5?1 plans, which lowers governance alarm. Investors should watch follow?through selling. SEC Form 4
• Neutral Sentiment: High institutional ownership — Institutions own ~88% of shares, which can amplify moves (momentum on the upside, or rapid rotation on any negative news). MarketBeat Profile
• Negative Sentiment: Investor litigation risk — Pomerantz announced an investigation into COCO, which can create headline risk, legal costs, and distracted management focus if it develops. PR Newswire
• Negative Sentiment: New geopolitical risk disclosure — The company flagged heightened geopolitical tensions as a potential pressure on costs, supply chain and margins; worsening conditions could hit gross margins or availability. TipRanks
• Negative Sentiment: Longer?term skepticism — Some analysts/commentaries caution that COCO’s category is niche and competition could cap long?term upside, tempering valuation expectations after the run. Seeking Alpha

Wall Street Analysts Forecast Growth

COCO has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a research report on Friday, March 27th. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Jefferies Financial Group boosted their target price on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of Vita Coco in a research report on Thursday. 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. According to MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average 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.