Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells 30,000 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $35.58, for a total value of $1,067,400.00. Following the sale, the director now directly owns 853,729 shares in the company, valued at $30,375,677.82. The trade was a 3.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ira Liran also recently made the following trade(s):

• On Friday, November 8th, Ira Liran sold 27,176 shares of Vita Coco stock. The shares were sold at an average price of $36.04, for a total value of $979,423.04.

Vita Coco Stock Performance

Shares of NASDAQ:COCO traded up $0.22 on Friday, hitting $35.86. The stock had a trading volume of 658,891 shares, compared to its average volume of 600,570. The firm’s 50 day moving average price is $33.77 and its 200-day moving average price is $29.45. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $37.88. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COCO. Bank of America boosted their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Craig Hallum upped their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Institutional Investors Weigh In On Vita Coco

Large investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its position 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 purchasing an additional 1,799,168 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Vita Coco by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock valued at $29,494,000 after buying an additional 101,823 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after buying an additional 461,748 shares during the last quarter. State Street Corp lifted its position in Vita Coco by 4.7% during the 3rd quarter. State Street Corp now owns 876,774 shares of the company’s stock worth $24,821,000 after buying an additional 39,431 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Vita Coco by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after acquiring an additional 156,033 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

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.