Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Sells 3,888 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 3,888 shares of Vita Coco stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $37.01, for a total value of $143,894.88. Following the completion of the sale, the chief marketing officer now directly owns 131,834 shares in the company, valued at $4,879,176.34. This represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Vita Coco Stock Performance

Vita Coco stock traded up $0.22 during midday trading on Monday, reaching $36.34. 349,035 shares of the company’s stock were exchanged, compared to its average volume of 617,398. The stock’s 50-day simple moving average is $30.85 and its 200 day simple moving average is $28.25. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 2.36 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 $37.05.

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

Institutional Trading of Vita Coco

A number of hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP raised its holdings in Vita Coco by 299.0% in the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company’s stock valued at $67,972,000 after acquiring an additional 1,799,168 shares during the period. Woodson Capital Management LP acquired a new position in shares of Vita Coco in the third quarter valued at approximately $19,224,000. Victory Capital Management Inc. increased its stake in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares during the period. Driehaus Capital Management LLC acquired a new stake in Vita Coco during the 2nd quarter worth approximately $9,859,000. Finally, Vanguard Group Inc. boosted its stake in Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after purchasing an additional 230,991 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three investment 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 company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.