Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Sells 2,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at $1,653,218.88. The trade was a 4.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Vita Coco Price Performance

COCO opened at $36.72 on Friday. The business has a fifty day moving average price of $33.12 and a 200 day moving average price of $29.24. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $37.88. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. On average, research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Craig Hallum raised their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP grew its stake in shares of Vita Coco by 299.0% during the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP purchased a new stake in Vita Coco during the 3rd quarter worth about $19,224,000. Victory Capital Management Inc. boosted its position in shares of Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after acquiring an additional 461,748 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Vita Coco in the 2nd quarter valued at about $9,859,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after acquiring an additional 200,940 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.