Martin F. Roper Sells 5,000 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $35.98, for a total transaction of $179,900.00. Following the transaction, the chief executive officer now owns 372,152 shares of the company’s stock, valued at $13,390,028.96. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $36.28 on Tuesday. The firm has a fifty day moving average of $32.45 and a 200 day moving average of $28.97. The firm has a market cap of $2.06 billion, a PE ratio of 36.65, a PEG ratio of 2.37 and a beta of 0.31. The Vita Coco Company, Inc. has a one year low of $19.41 and a one year high of $37.20.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, October 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, equities 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its position 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 worth $67,972,000 after purchasing an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP purchased a new stake in shares of Vita Coco during the third quarter worth $19,224,000. Victory Capital Management Inc. raised its position 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. Driehaus Capital Management LLC purchased a new position in shares of Vita Coco in the second quarter worth about $9,859,000. Finally, Harbor Capital Advisors Inc. boosted its position in Vita Coco by 143.0% during the third quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after acquiring an additional 200,940 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Craig Hallum boosted their price objective on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Bank of America raised their price target on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average target price of $32.14.

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.