The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran Sells 10,890 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 10,890 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $29.57, for a total value of $322,017.30. Following the sale, the director now directly owns 677,046 shares of the company’s stock, valued at $20,020,250.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vita Coco Price Performance

NASDAQ COCO opened at $26.49 on Tuesday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 51.94 and a beta of 0.07. The Vita Coco Company, Inc. has a 1-year low of $7.39 and a 1-year high of $33.29. The business’s 50-day simple moving average is $26.91 and its 200-day simple moving average is $24.38.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $139.65 million for the quarter, compared to analyst estimates of $131.40 million. Vita Coco had a return on equity of 20.71% and a net margin of 6.26%. On average, equities research analysts expect that The Vita Coco Company, Inc. will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of COCO. Lord Abbett & CO. LLC acquired a new position in Vita Coco during the 1st quarter worth approximately $5,746,000. William Blair Investment Management LLC raised its position in shares of Vita Coco by 60.9% in the 1st quarter. William Blair Investment Management LLC now owns 1,196,237 shares of the company’s stock valued at $23,470,000 after purchasing an additional 452,746 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at approximately $5,721,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Vita Coco in the 1st quarter valued at approximately $6,174,000. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Vita Coco in the 2nd quarter valued at approximately $8,429,000. 42.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Vita Coco from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Stephens initiated coverage on Vita Coco in a research report on Thursday, June 22nd. They set an “equal weight” rating and a $30.00 price objective for the company. Bank of America cut Vita Coco from a “buy” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $32.00 in a report on Wednesday, August 2nd. Finally, Piper Sandler lifted their price target on Vita Coco from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.