The Vita Coco Company, Inc. (NASDAQ:COCO) Insider Es Charles Van Sells 45,315 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 45,315 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $29.59, for a total transaction of $1,340,870.85. Following the sale, the insider now owns 93,258 shares of the company’s stock, valued at $2,759,504.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vita Coco Stock Down 1.1 %

Shares of COCO opened at $26.49 on Tuesday. The Vita Coco Company, Inc. has a 12-month low of $7.39 and a 12-month high of $33.29. The business’s fifty day moving average is $26.91 and its 200 day moving average is $24.38. The stock has a market cap of $1.50 billion, a P/E ratio of 51.94 and a beta of 0.07.

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

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in Vita Coco by 66.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock valued at $38,000 after purchasing an additional 560 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Vita Coco by 6.0% during the 1st quarter. Squarepoint Ops LLC now owns 11,004 shares of the company’s stock valued at $216,000 after purchasing an additional 626 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Vita Coco by 5.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,403 shares of the company’s stock worth $158,000 after acquiring an additional 638 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Vita Coco by 37.2% in the 2nd quarter. Royal Bank of Canada now owns 2,609 shares of the company’s stock worth $70,000 after acquiring an additional 707 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Vita Coco by 6.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,488 shares of the company’s stock worth $245,000 after acquiring an additional 798 shares in the last quarter. Institutional investors and hedge funds own 42.33% of the company’s stock.

Wall Street Analyst Weigh In

COCO has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Vita Coco from $27.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Stephens started coverage on Vita Coco in a report on Thursday, June 22nd. They issued an “equal weight” rating and a $30.00 target price for the company. Bank of America downgraded Vita Coco from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $25.00 to $32.00 in a report on Wednesday, August 2nd. Finally, Piper Sandler lifted their target price on Vita Coco from $25.00 to $32.00 and gave the stock 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

About Vita Coco

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.