The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Sells $64,178.10 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Chairman Michael Kirban sold 2,562 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now owns 640,348 shares of the company’s stock, valued at $16,040,717.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Kirban also recently made the following trade(s):

• On Tuesday, March 19th, Michael Kirban sold 19,198 shares of Vita Coco stock. The stock was sold at an average price of $25.01, for a total value of $480,141.98.

Vita Coco Price Performance

NASDAQ:COCO opened at $23.76 on Thursday. The business’s 50-day moving average is $22.72 and its two-hundred day moving average is $25.47. The Vita Coco Company, Inc. has a 12 month low of $19.06 and a 12 month high of $33.29. The firm has a market capitalization 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 earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $106.10 million during the quarter, compared to the consensus estimate of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. Vita Coco’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. Equities analysts anticipate that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Vita Coco

Several large investors have recently added to or reduced their stakes in the company. Syon Capital LLC purchased a new position in shares of Vita Coco during the 4th quarter valued at $113,931,000. FMR LLC raised its position in shares of Vita Coco by 72.3% during the third quarter. FMR LLC now owns 2,384,817 shares of the company’s stock valued at $62,101,000 after buying an additional 1,000,408 shares during the last quarter. Vanguard Group Inc. raised its position in Vita Coco by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 2,144,430 shares of the company’s stock worth $55,005,000 after purchasing an additional 189,355 shares in the last quarter. BlackRock Inc. raised its position in Vita Coco by 12.9% in the second quarter. BlackRock Inc. now owns 1,997,803 shares of the company’s stock worth $53,681,000 after purchasing an additional 228,678 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in Vita Coco by 25.8% during the second quarter. Driehaus Capital Management LLC now owns 1,117,079 shares of the company’s stock worth $30,016,000 after buying an additional 228,953 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.