Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Sells 2,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Corey Baker sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $37.28, for a total value of $74,560.00. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,653,218.88. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Vita Coco Stock Up 0.1 %

Shares of NASDAQ COCO traded up $0.05 during trading on Friday, hitting $36.72. 306,381 shares of the company traded hands, compared to its average volume of 602,888. The company has a 50-day moving average price of $32.96 and a 200-day moving average price of $29.15. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.88. The firm has a market capitalization of $2.08 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.42 and a beta of 0.31.

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

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP grew its stake in shares of Vita Coco by 299.0% during the third 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after buying an additional 101,823 shares during the last quarter. Victory Capital Management Inc. boosted its position 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 during the period. State Street Corp grew its position in shares of Vita Coco by 4.7% during the third quarter. State Street Corp now owns 876,774 shares of the company’s stock worth $24,821,000 after acquiring an additional 39,431 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Vita Coco by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock valued at $21,623,000 after buying an additional 156,033 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on COCO shares. Bank of America upped their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Craig Hallum upped their price target on shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average price target of $32.14.

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.