Vita Coco (NASDAQ:COCO) Insider Sells $603,777.25 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 8,045 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the sale, the insider directly owned 59,085 shares in the company, valued at approximately $4,434,329.25. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 8th, Es Charles Van sold 8,561 shares of Vita Coco stock. The stock was sold at an average price of $70.00, for a total transaction of $599,270.00.
• On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $66.87, for a total transaction of $133,740.00.
• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $48.67, for a total transaction of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total transaction of $115,960.00.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded down $0.38 during mid-day trading on Tuesday, reaching $74.62. The company had a trading volume of 687,301 shares, compared to its average volume of 1,105,598. Vita Coco Company, Inc. has a twelve month low of $31.79 and a twelve month high of $79.70. The stock has a market capitalization of $4.26 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74. The stock’s 50 day moving average is $60.46 and its 200-day moving average is $56.10.

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. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The business had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same period in the prior year, the business posted $0.31 earnings per share. Vita Coco’s revenue for the quarter was up 37.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COCO shares. 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. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Evercore reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Jefferies Financial Group upped their price objective on shares of Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Institutional Investors Weigh In On Vita Coco

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its holdings in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock worth $28,000 after purchasing an additional 501 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares in the last quarter. Quarry LP boosted its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after purchasing an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after purchasing an additional 1,344 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares in the last quarter. 88.49% of the stock is currently 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.