Vita Coco (NASDAQ:COCO) Shares Gap Up – What’s Next?

Vita Coco Company, Inc. (NASDAQ:COCO)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $63.54, but opened at $67.25. Vita Coco shares last traded at $65.96, with a volume of 24,044 shares.

Analyst Ratings Changes

Several research analysts recently commented on COCO shares. Wells Fargo & Company lifted their price target on Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Piper Sandler raised their price objective on Vita Coco from $74.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Evercore raised their price target on Vita Coco from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.71.

Vita Coco Price Performance

The stock has a market capitalization of $3.80 billion, a P/E ratio of 36.54, a PEG ratio of 1.20 and a beta of 0.77. The stock’s fifty day moving average price is $71.44 and its 200 day moving average price is $63.88.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $216.15 million during the quarter, compared to analysts’ expectations of $210.64 million. Vita Coco had a net margin of 15.50% and a return on equity of 31.09%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. On average, sell-side analysts expect that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, Director Ira Liran sold 73,842 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.32, for a total value of $5,930,989.44. Following the completion of the sale, the director directly owned 402,579 shares in the company, valued at approximately $32,335,145.28. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Es Charles Van sold 8,045 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total value of $603,777.25. Following the transaction, the insider owned 59,085 shares in the company, valued at approximately $4,434,329.25. This represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 351,945 shares of company stock valued at $28,007,266 in the last ninety days. Corporate insiders own 12.90% of the company’s stock.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Quarry LP lifted its stake in shares of Vita Coco by 12,633.3% during the third quarter. Quarry LP now owns 764 shares of the company’s stock worth $32,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 valued at $49,000 after buying an additional 1,344 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Vita Coco by 265.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company’s stock valued at $70,000 after acquiring an additional 958 shares during the period. Finally, CWM LLC increased its position in shares of Vita Coco by 18.2% in the 4th quarter. CWM LLC now owns 1,505 shares of the company’s stock valued at $80,000 after acquiring an additional 232 shares during the period. 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.