Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) COO Sells 1,400 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 1,400 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $30.04, for a total transaction of $42,056.00. Following the completion of the sale, the chief operating officer now directly owns 121,900 shares of the company’s stock, valued at $3,661,876. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Jonathan Burth also recently made the following trade(s):

• On Tuesday, October 22nd, Jonathan Burth sold 905 shares of Vita Coco stock. The shares were sold at an average price of $30.04, for a total value of $27,186.20.
• On Wednesday, October 16th, Jonathan Burth sold 400 shares of Vita Coco stock. The shares were sold at an average price of $30.00, for a total value of $12,000.00.
• On Monday, September 30th, Jonathan Burth sold 2,244 shares of Vita Coco stock. The shares were sold at an average price of $30.01, for a total value of $67,342.44.

Vita Coco Price Performance

COCO opened at $29.61 on Friday. The stock’s 50 day simple moving average is $27.74 and its 200 day simple moving average is $27.03. The stock has a market cap of $1.68 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.24 and a beta of 0.23. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $31.54.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. Research analysts expect that The Vita Coco Company, Inc. will post 1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on COCO. Wells Fargo & Company increased their price target on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Jefferies Financial Group reduced their target price on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Piper Sandler lowered shares of Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $28.00 in a research note on Friday, July 12th. Bank of America increased their price target on shares of Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COCO. CWM LLC grew its position in shares of Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after purchasing an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares during the last quarter. Arizona State Retirement System increased its position in Vita Coco by 9.5% during the second quarter. Arizona State Retirement System now owns 11,107 shares of the company’s stock worth $309,000 after buying an additional 960 shares in the last quarter. US Bancorp DE raised its holdings in shares of Vita Coco by 8.5% in the third quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after acquiring an additional 1,178 shares during the last quarter. Finally, nVerses Capital LLC lifted its position in shares of Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.