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 Vita Coco stock in a transaction on Friday, November 29th. The shares were sold at an average price of $35.81, for a total value of $179,050.00. Following the sale, the chief executive officer now directly owns 397,152 shares of the company’s stock, valued at $14,222,013.12. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Vita Coco Stock Up 1.0 %

Shares of Vita Coco stock traded up $0.34 during trading on Tuesday, reaching $35.73. 204,037 shares of the stock were exchanged, compared to its average volume of 609,149. The stock’s fifty day moving average is $31.74 and its 200 day moving average is $28.63. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 35.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.31. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.05.

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

Hedge Funds Weigh In On Vita Coco

Several large investors have recently made changes to their positions in COCO. nVerses Capital LLC raised its stake in Vita Coco by 271.4% during 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 raised its holdings in Vita Coco by 40.7% in the second quarter. CWM LLC now owns 2,720 shares of the company’s stock worth $76,000 after buying an additional 787 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares in the last quarter. Comerica Bank boosted its position in shares of Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Vita Coco in the 2nd quarter worth about $141,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Craig Hallum lifted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.