Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Sells 300 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 300 shares of Vita Coco stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $35.05, for a total value of $10,515.00. Following the transaction, the chief executive officer now directly owns 442,152 shares in the company, valued at approximately $15,497,427.60. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vita Coco Stock Up 0.5 %

COCO stock opened at $34.02 on Friday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 2.22 and a beta of 0.22. The firm has a 50 day moving average of $29.72 and a two-hundred day moving average of $27.81. The Vita Coco Company, Inc. has a 12 month low of $19.41 and a 12 month high of $36.41.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $138.56 million. During the same period in the prior year, the company posted $0.26 earnings per share. Vita Coco’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts expect that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COCO shares. Craig Hallum boosted their price objective 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. Jefferies Financial Group lowered their price target on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Swiss National Bank grew its holdings in Vita Coco by 19.1% during the first quarter. Swiss National Bank now owns 72,900 shares of the company’s stock valued at $1,781,000 after purchasing an additional 11,700 shares during the last quarter. Vanguard Group Inc. grew its stake in Vita Coco by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after buying an additional 230,991 shares during the last quarter. Summit Creek Advisors LLC bought a new position in Vita Coco in the 1st quarter worth $3,727,000. Hillsdale Investment Management Inc. lifted its position in Vita Coco by 8.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 197,800 shares of the company’s stock worth $4,832,000 after acquiring an additional 15,470 shares during the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in Vita Coco during the first quarter valued at about $18,210,000. 88.49% of the stock is owned by institutional investors.

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.