Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Sells $91,587.48 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 2,474 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.02, for a total transaction of $91,587.48. Following the completion of the sale, the chief marketing officer now directly owns 130,751 shares in the company, valued at approximately $4,840,402.02. This represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jane Prior also recently made the following trade(s):

• On Wednesday, December 4th, Jane Prior sold 3,638 shares of Vita Coco stock. The shares were sold at an average price of $37.04, for a total transaction of $134,751.52.
• On Thursday, November 21st, Jane Prior sold 3,888 shares of Vita Coco stock. The stock was sold at an average price of $37.01, for a total transaction of $143,894.88.

Vita Coco Price Performance

Shares of COCO opened at $36.72 on Monday. The firm has a market capitalization of $2.08 billion, a PE ratio of 37.09, a PEG ratio of 2.42 and a beta of 0.31. The company’s 50-day moving average is $33.12 and its 200-day moving average is $29.25. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.88.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same period last year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new position in Vita Coco during the 1st quarter worth $263,000. Comerica Bank grew its stake in shares of Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after acquiring an additional 3,675 shares in the last quarter. CWM LLC increased its position in Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after acquiring an additional 787 shares during the period. Diversified Trust Co acquired a new stake in Vita Coco in the 2nd quarter worth about $313,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Vita Coco in the 2nd quarter valued at about $150,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COCO. Craig Hallum upped their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America raised their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

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.