Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells $69,611.20 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.04, for a total transaction of $69,611.20. Following the completion of the sale, the director now owns 992,644 shares in the company, valued at approximately $24,855,805.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ira Liran also recently made the following trade(s):

• On Tuesday, March 19th, Ira Liran sold 13,998 shares of Vita Coco stock. The shares were sold at an average price of $25.02, for a total transaction of $350,229.96.

Vita Coco Price Performance

NASDAQ:COCO opened at $23.76 on Thursday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 1.94 and a beta of 0.19. The company’s 50-day moving average is $22.72 and its two-hundred day moving average is $25.47. The Vita Coco Company, Inc. has a 1-year low of $19.06 and a 1-year high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. Vita Coco’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. As a group, equities analysts anticipate that The Vita Coco Company, Inc. will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in COCO. Syon Capital LLC purchased a new stake in shares of Vita Coco in the 4th quarter valued at approximately $113,931,000. FMR LLC raised its stake in shares of Vita Coco by 72.3% in the 3rd quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after acquiring an additional 1,000,408 shares during the period. abrdn plc purchased a new stake in shares of Vita Coco in the 4th quarter valued at approximately $22,321,000. Ameriprise Financial Inc. increased its stake in Vita Coco by 9,796.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company’s stock worth $20,516,000 after buying an additional 779,912 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Vita Coco during the 1st quarter worth approximately $5,746,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COCO shares. TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target on the stock in a research report on Thursday, February 29th. Piper Sandler boosted their price target on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group lowered their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Finally, William Blair lowered shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.71.

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; juice, hydration mix, and milk; sparkling water; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.