Ira Liran Sells 2,780 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 2,780 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $25.04, for a total transaction of $69,611.20. Following the transaction, the director now directly owns 992,644 shares of the company’s stock, valued at approximately $24,855,805.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ira Liran also recently made the following trade(s):

• On Tuesday, March 19th, Ira Liran sold 13,998 shares of Vita Coco stock. The shares were sold at an average price of $25.02, for a total transaction of $350,229.96.

Vita Coco Trading Down 0.3 %

Shares of Vita Coco stock opened at $23.76 on Thursday. The company’s 50-day moving average price is $22.72 and its two-hundred day moving average price is $25.47. The Vita Coco Company, Inc. has a 52 week low of $19.06 and a 52 week high of $33.29. The stock has a market cap of $1.35 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.94 and a beta of 0.19.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The firm had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. During the same period in the previous year, the business earned $0.04 earnings per share. Vita Coco’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts predict that The Vita Coco Company, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COCO has been the subject of several analyst reports. Stephens raised shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Thursday, February 29th. The Goldman Sachs Group reduced their price objective on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. William Blair downgraded shares of Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. TheStreet downgraded shares of Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Finally, Piper Sandler upped their price objective on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.71.

Institutional Investors Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of COCO. Syon Capital LLC bought a new stake in Vita Coco in the fourth quarter worth about $113,931,000. FMR LLC raised its holdings in Vita Coco by 72.3% during the 3rd quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after buying an additional 1,000,408 shares during the period. abrdn plc acquired a new stake in Vita Coco during the 4th quarter worth about $22,321,000. Ameriprise Financial Inc. raised its holdings in Vita Coco by 9,796.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company’s stock worth $20,516,000 after buying an additional 779,912 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Vita Coco during the 1st quarter worth about $5,746,000. 88.49% of the stock is currently owned by institutional investors.

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