Insider Selling: Vita Coco (NASDAQ:COCO) CFO Sells $325,000.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $65.00, for a total value of $325,000.00. Following the completion of the sale, the chief financial officer directly owned 24,951 shares in the company, valued at $1,621,815. This represents a 16.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Corey Baker also recently made the following trade(s):

• On Tuesday, November 3rd, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $60.00, for a total value of $60,000.00.

Vita Coco Trading Down 2.9%

NASDAQ:COCO traded down $1.89 during mid-day trading on Thursday, reaching $63.58. 1,088,811 shares of the stock were exchanged, compared to its average volume of 1,238,788. The business has a fifty day moving average price of $57.30 and a 200 day moving average price of $61.73. Vita Coco Company, Inc. has a 1-year low of $40.62 and a 1-year high of $85.83. The firm has a market capitalization of $3.63 billion, a PE ratio of 31.95, a PEG ratio of 1.53 and a beta of 0.76.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Vita Coco had a net margin of 15.70% and a return on equity of 31.84%. The company had revenue of $243.83 million during the quarter, compared to the consensus estimate of $230.10 million. During the same period in the prior year, the company earned $0.40 EPS. Vita Coco’s revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts forecast that Vita Coco Company, Inc. will post 2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COCO shares. Oppenheimer began coverage on Vita Coco in a report on Thursday, October 1st. They issued an “outperform” rating and a $70.00 price target on the stock. Evercore reissued an “outperform” rating on shares of Vita Coco in a research note on Friday, October 23rd. Piper Sandler lifted their target price on Vita Coco from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Wall Street Zen lowered Vita Coco from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Morgan Stanley upped their target price on Vita Coco from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Vita Coco has a consensus rating of “Moderate Buy” and a consensus price target of $74.12.

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. IFP Advisors Inc raised its position in Vita Coco by 210.4% during the second quarter. IFP Advisors Inc now owns 689 shares of the company’s stock valued at $46,000 after acquiring an additional 467 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Vita Coco by 611.4% in the third quarter. Fortitude Family Office LLC now owns 626 shares of the company’s stock worth $36,000 after buying an additional 538 shares during the last quarter. BOKF NA lifted its position in shares of Vita Coco by 26.8% in the third quarter. BOKF NA now owns 3,168 shares of the company’s stock worth $181,000 after buying an additional 669 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Vita Coco by 12.5% during the 3rd quarter. Contravisory Investment Management Inc. now owns 6,584 shares of the company’s stock worth $377,000 after acquiring an additional 733 shares in the last quarter. Finally, Signature Equity Partners LLC bought a new stake in shares of Vita Coco during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

The Vita Coco Company, Inc is a beverage company focused on hydration and wellness products. Its flagship brand, Vita Coco, offers coconut water in a variety of formats and flavors, including original, flavored and pressed coconut water products. The company also markets other beverages under brands such as Ever & Ever, a plant-based water brand, and PWR LIFT, a functional hydration beverage.

Vita Coco products are sold through grocery stores, mass merchandisers, convenience stores, club retailers, e-commerce platforms and foodservice channels.