Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells 30,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the transaction, the director now directly owns 853,729 shares in the company, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, November 8th, Ira Liran sold 27,176 shares of Vita Coco stock. The stock was sold at an average price of $36.04, for a total transaction of $979,423.04.

Vita Coco Price Performance

NASDAQ:COCO traded up $0.22 during midday trading on Friday, reaching $35.86. The stock had a trading volume of 658,891 shares, compared to its average volume of 600,570. The stock has a market capitalization of $2.03 billion, a P/E ratio of 36.22, a PEG ratio of 2.42 and a beta of 0.31. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $37.88. The firm’s fifty day simple moving average is $33.77 and its 200-day simple moving average is $29.45.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $133.00 million for 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 firm’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COCO shares. Bank of America lifted their price objective 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. Craig Hallum boosted their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC boosted 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 during the period. Quest Partners LLC boosted its holdings in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after purchasing an additional 3,473 shares during the period. ProShare Advisors LLC bought a new stake in Vita Coco in the 2nd quarter valued at $141,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Vita Coco by 25.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,027 shares of the company’s stock worth $199,000 after purchasing an additional 1,434 shares during the last quarter. Finally, LVW Advisors LLC bought a new position in shares of Vita Coco during the 3rd quarter worth about $209,000. 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.