Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Sells 5,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $36.37, for a total value of $181,850.00. Following the completion of the transaction, the chief executive officer now directly owns 337,152 shares of the company’s stock, valued at $12,262,218.24. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Vita Coco Stock Down 0.1 %

Shares of COCO traded down $0.04 during mid-day trading on Thursday, reaching $35.64. The company’s stock had a trading volume of 585,229 shares, compared to its average volume of 600,330. The business has a fifty day moving average of $33.62 and a 200 day moving average of $29.41. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.88. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. During the same quarter last year, the firm posted $0.26 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Trading of Vita Coco

Several large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC increased its stake in Vita Coco by 21.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock worth $13,034,000 after purchasing an additional 80,128 shares in the last quarter. TT International Asset Management LTD raised its holdings in Vita Coco by 1,643.7% in the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock valued at $5,129,000 after acquiring an additional 170,797 shares during the period. Geode Capital Management LLC lifted its holdings in Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after purchasing an additional 101,823 shares during the last quarter. Barclays PLC grew its position in shares of Vita Coco by 200.6% during the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock worth $1,969,000 after purchasing an additional 46,385 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Vita Coco in the third quarter worth $348,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Craig Hallum upped their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.14.

About Vita Coco

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.