Insider Selling: Vita Coco (NASDAQ:COCO) Director Sells $323,388.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of Vita Coco stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total value of $323,388.00. Following the transaction, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, May 20th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $77.47, for a total value of $302,133.00.
• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The stock was sold at an average price of $48.93, for a total transaction of $190,827.00.

Vita Coco Trading Up 0.3%

NASDAQ COCO traded up $0.26 on Thursday, reaching $83.90. 1,288,812 shares of the stock were exchanged, compared to its average volume of 1,215,952. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83. The firm has a market capitalization of $4.79 billion, a PE ratio of 61.24, a PEG ratio of 2.01 and a beta of 0.74. The company’s 50-day simple moving average is $67.04 and its two-hundred day simple moving average is $58.62.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The business had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company’s revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Sell-side analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COCO shares. Evercore reiterated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Wells Fargo & Company boosted their price objective on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of Vita Coco in a research note on Wednesday, April 29th. Morgan Stanley set a $65.00 price objective on Vita Coco in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vita Coco has an average rating of “Moderate Buy” and an average target price of $70.43.

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 grew its holdings in Vita Coco by 80.3% during the 1st quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock valued at $176,093,000 after buying an additional 1,637,437 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vita Coco during the 3rd quarter worth approximately $62,815,000. Wellington Management Group LLP raised its holdings in shares of Vita Coco by 232.2% during 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 in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Vita Coco during the 4th quarter valued at approximately $73,242,000. Finally, Westfield Capital Management Co. LP bought a new position in shares of Vita Coco during the 3rd quarter valued at approximately $45,135,000. 88.49% of the stock is owned by institutional investors.

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.