Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) Insider Sells 4,372 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 4,372 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $30.00, for a total value of $131,160.00. Following the completion of the sale, the insider now owns 97,668 shares in the company, valued at approximately $2,930,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Es Charles Van also recently made the following trade(s):

• On Friday, June 14th, Es Charles Van sold 2,805 shares of Vita Coco stock. The shares were sold at an average price of $30.06, for a total value of $84,318.30.
• On Monday, June 17th, Es Charles Van sold 6,700 shares of Vita Coco stock. The shares were sold at an average price of $30.04, for a total value of $201,268.00.

Vita Coco Stock Down 9.1 %

Shares of COCO stock traded down $2.76 during trading on Friday, reaching $27.66. 1,000,028 shares of the company’s stock were exchanged, compared to its average volume of 676,899. The stock has a market capitalization of $1.57 billion, a PE ratio of 30.18, a PEG ratio of 1.90 and a beta of 0.23. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $33.29. The firm’s fifty day moving average price is $27.84 and its 200-day moving average price is $25.19.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $112.00 million for the quarter, compared to analyst estimates of $111.72 million. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS. As a group, analysts anticipate that The Vita Coco Company, Inc. will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in COCO. Headinvest LLC acquired a new position in Vita Coco in the 3rd quarter valued at $29,000. Robeco Institutional Asset Management B.V. acquired a new position in Vita Coco in the 4th quarter valued at $60,000. New York State Teachers Retirement System acquired a new position in Vita Coco in the 1st quarter valued at $63,000. CWM LLC grew its holdings in Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after buying an additional 3,210 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COCO has been the topic of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $31.00 price objective on shares of Vita Coco in a research note on Thursday, May 23rd. Bank of America upped their price objective on Vita Coco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Piper Sandler cut Vita Coco from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $28.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.29.

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.