Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) COO Sells $12,000.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 400 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $30.00, for a total value of $12,000.00. Following the completion of the sale, the chief operating officer now owns 124,205 shares of the company’s stock, valued at $3,726,150. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Jonathan Burth also recently made the following trade(s):

• On Monday, September 30th, Jonathan Burth sold 2,244 shares of Vita Coco stock. The shares were sold at an average price of $30.01, for a total value of $67,342.44.

Vita Coco Price Performance

Vita Coco stock opened at $28.84 on Monday. The firm has a 50-day moving average of $27.08 and a 200-day moving average of $26.81. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 2.24 and a beta of 0.23. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $31.42.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm had revenue of $144.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same period last year, the company earned $0.26 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that The Vita Coco Company, Inc. will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC bought a new position in shares of Vita Coco in the 1st quarter valued at about $18,210,000. Victory Capital Management Inc. grew its holdings in Vita Coco by 1,310.1% during the second quarter. Victory Capital Management Inc. now owns 433,968 shares of the company’s stock worth $12,086,000 after purchasing an additional 403,192 shares during the period. Driehaus Capital Management LLC acquired a new position in Vita Coco during the second quarter worth approximately $9,859,000. Vanguard Group Inc. raised its stake in Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares during the period. Finally, Summit Creek Advisors LLC lifted its position in shares of Vita Coco by 123.3% in the second quarter. Summit Creek Advisors LLC now owns 340,634 shares of the company’s stock valued at $9,487,000 after buying an additional 188,060 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COCO. Bank of America lifted their price target on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Wells Fargo & Company upped their target price on shares of Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $28.00 in a research note on Friday, July 12th. Finally, Jefferies Financial Group reduced their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.17.

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.