Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells $979,423.04 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total transaction of $979,423.04. Following the transaction, the director now directly owns 883,729 shares of the company’s stock, valued at $31,849,593.16. The trade was a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vita Coco Stock Performance

Shares of COCO opened at $33.85 on Friday. The firm has a market cap of $1.92 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.30 and a beta of 0.22. The Vita Coco Company, Inc. has a 52-week low of $19.41 and a 52-week high of $36.41. The business’s 50 day moving average price is $29.54 and its two-hundred day moving average price is $27.77.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Craig Hallum raised their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered 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 five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Trading of Vita Coco

Large investors have recently made changes to their positions in the company. Wasatch Advisors LP boosted its holdings in Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock worth $67,972,000 after acquiring an additional 1,799,168 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Vita Coco in the 1st quarter worth $18,210,000. Woodson Capital Management LP acquired a new stake in Vita Coco in the 3rd quarter valued at $19,224,000. Victory Capital Management Inc. increased its stake in Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Vita Coco during the second quarter worth $9,859,000. 88.49% of the stock is currently 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, 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.