Vita Coco (NASDAQ:COCO) CEO Sells $1,252,750.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin Roper sold 25,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $50.11, for a total value of $1,252,750.00. Following the sale, the chief executive officer directly owned 298,484 shares of the company’s stock, valued at $14,957,033.24. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Roper also recently made the following trade(s):

• On Tuesday, April 14th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00.
• On Monday, April 13th, Martin Roper sold 4,456 shares of Vita Coco stock. The shares were sold at an average price of $50.55, for a total value of $225,250.80.
• On Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.95, for a total value of $1,273,750.00.

Vita Coco Trading Down 2.9%

Shares of COCO opened at $48.33 on Friday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 40.96, a PEG ratio of 1.57 and a beta of 0.47. The stock has a 50 day moving average of $53.46 and a 200 day moving average of $50.51. Vita Coco Company, Inc. has a 12 month low of $29.74 and a 12 month high of $61.39.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $117.80 million. During the same period in the previous year, the business posted $0.06 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Vita Coco

Several large investors have recently added to or reduced their stakes in COCO. SG Americas Securities LLC raised its position in Vita Coco by 93.3% during the first quarter. SG Americas Securities LLC now owns 46,274 shares of the company’s stock valued at $2,217,000 after purchasing an additional 22,334 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Vita Coco by 265.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after purchasing an additional 958 shares in the last quarter. Virtu Financial LLC purchased a new stake in Vita Coco during the fourth quarter valued at about $642,000. Invesco Ltd. raised its position in Vita Coco by 13.9% during the fourth quarter. Invesco Ltd. now owns 50,206 shares of the company’s stock valued at $2,661,000 after purchasing an additional 6,115 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in Vita Coco during the fourth quarter valued at about $284,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on COCO shares. Wall Street Zen lowered Vita Coco from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Evercore reissued an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. Wells Fargo & Company reduced their price objective on Vita Coco from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Morgan Stanley increased their price objective on Vita Coco from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Zacks Research lowered Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $59.43.

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.