Vita Coco (NASDAQ:COCO) Insider Sells $133,740.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 2,000 shares of Vita Coco stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $66.87, for a total value of $133,740.00. Following the completion of the transaction, the insider owned 75,691 shares in the company, valued at $5,061,457.17. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Es Charles Van also recently made the following trade(s):

• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $48.67, for a total value of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $57.98, for a total transaction of $115,960.00.

Vita Coco Stock Performance

Shares of COCO opened at $68.64 on Thursday. The company has a 50-day simple moving average of $53.28 and a 200-day simple moving average of $51.75. The firm has a market capitalization of $3.92 billion, a P/E ratio of 50.10, a P/E/G ratio of 1.63 and a beta of 0.72. Vita Coco Company, Inc. has a 52 week low of $30.54 and a 52 week high of $69.58.

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

Analyst Ratings Changes

COCO has been the topic of a number of analyst reports. Weiss Ratings raised shares of Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of Vita Coco in a research note on Thursday, April 30th. Wells Fargo & Company raised their target price on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Westfield Capital Management Co. LP bought a new position in shares of Vita Coco in the 3rd quarter valued at about $45,135,000. New York State Common Retirement Fund boosted its position in shares of Vita Coco by 10.3% in the 3rd quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock worth $21,703,000 after purchasing an additional 47,632 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Vita Coco in the third quarter valued at about $2,230,000. Wilmington Savings Fund Society FSB bought a new position in Vita Coco during the third quarter worth about $62,815,000. Finally, American Century Companies Inc. increased its stake in shares of Vita Coco by 648.0% in the 3rd quarter. American Century Companies Inc. now owns 647,257 shares of the company’s stock valued at $27,489,000 after acquiring an additional 560,729 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

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.