Michael Kirban Sells 6,900 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 6,900 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,500.00. Following the completion of the sale, the chairman now directly owns 633,448 shares of the company’s stock, valued at approximately $15,836,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Kirban also recently made the following trade(s):

• On Thursday, March 21st, Michael Kirban sold 2,562 shares of Vita Coco stock. The stock was sold at an average price of $25.05, for a total value of $64,178.10.
• On Tuesday, March 19th, Michael Kirban sold 19,198 shares of Vita Coco stock. The stock was sold at an average price of $25.01, for a total value of $480,141.98.

Vita Coco Stock Up 2.1 %

Shares of NASDAQ COCO opened at $26.23 on Monday. The stock’s 50 day moving average price is $23.18 and its two-hundred day moving average price is $25.25. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $33.29. The stock has a market capitalization of $1.49 billion, a P/E ratio of 32.79, a PEG ratio of 2.09 and a beta of 0.16.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The firm had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Vita Coco’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts anticipate that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

Wall Street Analyst Weigh In

COCO has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. William Blair downgraded Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Thursday, February 29th. Piper Sandler increased their price target on Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $29.71.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in COCO. Headinvest LLC acquired a new stake in shares of Vita Coco during the 3rd quarter worth approximately $29,000. Legal & General Group Plc raised its position in shares of Vita Coco by 154.1% during the 2nd quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock worth $29,000 after purchasing an additional 1,824 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Vita Coco during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its position in shares of Vita Coco by 66.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock worth $38,000 after purchasing an additional 560 shares during the period. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Vita Coco during the 2nd quarter worth approximately $44,000. 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.