Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells 27,176 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 27,176 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 883,729 shares in the company, valued at $31,849,593.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded down $0.10 during trading on Tuesday, hitting $35.16. The company’s stock had a trading volume of 497,426 shares, compared to its average volume of 624,901. The company has a 50-day moving average of $29.14 and a 200-day moving average of $27.65. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $36.41. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 2.33 and a beta of 0.22.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on COCO shares. Jefferies Financial Group lowered their target price on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Craig Hallum lifted their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC raised its position in shares of Vita Coco by 271.4% in the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after buying an additional 1,900 shares during the last quarter. CWM LLC lifted its holdings in Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares in the last quarter. Quest Partners LLC raised its stake in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares during the period. Finally, Comerica Bank lifted its stake in Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock worth $98,000 after acquiring an additional 3,675 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.