Vita Coco (NASDAQ:COCO) Insider Sells $599,270.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 8,561 shares of Vita Coco stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $70.00, for a total value of $599,270.00. Following the completion of the sale, the insider directly owned 67,130 shares in the company, valued at $4,699,100. This represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 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 value 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 value 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 value of $115,960.00.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded up $0.86 during trading on Monday, reaching $72.46. The stock had a trading volume of 1,258,927 shares, compared to its average volume of 1,265,010. The business has a fifty day moving average price of $53.54 and a 200-day moving average price of $51.94. The stock has a market cap of $4.14 billion, a PE ratio of 52.89, a PEG ratio of 1.72 and a beta of 0.72. Vita Coco Company, Inc. has a 1-year low of $31.79 and a 1-year high of $72.98.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The firm had revenue of $179.77 million for the quarter, compared to analyst estimates of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The business’s revenue was up 37.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Sell-side analysts expect that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after purchasing an additional 227 shares during the period. CWM LLC raised its position in Vita Coco by 18.2% in the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after purchasing an additional 232 shares during the period. Mariner LLC raised its position in Vita Coco by 2.8% in the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock valued at $371,000 after purchasing an additional 236 shares during the period. Envestnet Asset Management Inc. raised its position in Vita Coco by 0.9% in the third quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after purchasing an additional 298 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Vita Coco by 4.1% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COCO shares. Wall Street Zen raised Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a research report on Wednesday, April 29th. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on Vita Coco from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.