Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells 27,176 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 27,176 shares of Vita Coco stock in a transaction on Friday, November 8th. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04. Following the sale, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Vita Coco Stock Down 3.1 %

Shares of Vita Coco stock opened at $34.06 on Thursday. The business has a 50-day moving average price of $29.54 and a 200 day moving average price of $27.77. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $36.41. The firm has a market cap of $1.93 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.30 and a beta of 0.22.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Trading of Vita Coco

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COCO. Craig Hallum lifted their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group dropped their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Three research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.