Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) COO Sells 905 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $30.04, for a total transaction of $27,186.20. Following the completion of the transaction, the chief operating officer now owns 123,300 shares of the company’s stock, valued at approximately $3,703,932. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 16th, Jonathan Burth sold 400 shares of Vita Coco stock. The stock was 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 transaction of $67,342.44.

Vita Coco Price Performance

Shares of COCO stock traded up $0.16 on Thursday, hitting $29.30. The stock had a trading volume of 231,501 shares, compared to its average volume of 612,460. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $31.42. The business has a 50 day moving average of $27.31 and a 200 day moving average of $26.88. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.23.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 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 up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, research analysts expect that The Vita Coco Company, Inc. will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Vita Coco

Several hedge funds have recently added to or reduced their stakes in COCO. Champlain Investment Partners LLC bought a new stake in shares of Vita Coco in the 1st quarter worth approximately $18,210,000. Victory Capital Management Inc. increased its position in Vita Coco by 1,310.1% in the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock worth $12,086,000 after buying an additional 403,192 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Vita Coco in the second quarter valued at $9,859,000. Vanguard Group Inc. lifted its position in shares of Vita Coco by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares during the last quarter. Finally, Summit Creek Advisors LLC grew its stake in shares of Vita Coco by 123.3% during the 2nd quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company’s stock worth $9,487,000 after acquiring an additional 188,060 shares during the period. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

COCO has been the subject of several research analyst reports. Jefferies Financial Group lowered their price objective 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 downgraded Vita Coco from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $28.00 in a research note on Friday, July 12th. Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Bank of America boosted their price target on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.17.

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.