Ira Liran Sells 74,232 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 74,232 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.29, for a total transaction of $5,960,087.28. Following the completion of the transaction, the director owned 309,871 shares of the company’s stock, valued at $24,879,542.59. This represents a 19.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 12th, Ira Liran sold 73,842 shares of Vita Coco stock. The shares were sold at an average price of $80.32, for a total transaction of $5,930,989.44.
• On Thursday, June 11th, Ira Liran sold 96,158 shares of Vita Coco stock. The stock was sold at an average price of $79.14, for a total transaction of $7,609,944.12.
• On Thursday, June 11th, Ira Liran sold 95,768 shares of Vita Coco stock. The stock was sold at an average price of $79.14, for a total transaction of $7,579,079.52.

Vita Coco Price Performance

COCO stock traded up $1.95 during midday trading on Monday, hitting $82.85. The stock had a trading volume of 1,025,711 shares, compared to its average volume of 1,218,585. The firm has a market cap of $4.73 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74. The company’s 50-day moving average price is $64.96 and its 200 day moving average price is $57.99. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $83.00.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $148.39 million. During the same quarter in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 37.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

COCO has been the topic of several research reports. Citigroup reiterated a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Jefferies Financial Group upped their target price on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Morgan Stanley set a $65.00 target price on shares of Vita Coco in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 price target on shares of Vita Coco in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Vita Coco by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after buying an additional 1,174 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Vita Coco by 5,376.0% during 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. Marshall Wace LLP bought a new position in shares of Vita Coco during the second quarter worth $9,627,000. Cerity Partners LLC bought a new stake in Vita Coco in the 2nd quarter valued at $645,000. Finally, Qube Research & Technologies Ltd bought a new stake in Vita Coco in the 2nd quarter valued at $2,990,000. Institutional investors own 88.49% of the company’s stock.

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.