Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Sells 2,474 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 2,474 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.02, for a total transaction of $91,587.48. Following the sale, the chief marketing officer now owns 130,751 shares in the company, valued at $4,840,402.02. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Jane Prior also recently made the following trade(s):

• On Wednesday, December 4th, Jane Prior sold 3,638 shares of Vita Coco stock. The shares were sold at an average price of $37.04, for a total transaction of $134,751.52.
• On Thursday, November 21st, Jane Prior sold 3,888 shares of Vita Coco stock. The stock was sold at an average price of $37.01, for a total value of $143,894.88.

Vita Coco Stock Performance

NASDAQ:COCO traded up $0.05 during trading hours on Friday, hitting $36.72. 306,381 shares of the company’s stock traded hands, compared to its average volume of 602,888. The stock’s fifty day moving average price is $32.96 and its two-hundred day moving average price is $29.15. The firm has a market cap 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. The Vita Coco Company, Inc. has a twelve month low of $19.41 and a twelve month high of $37.88.

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

Analysts Set New Price Targets

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

Institutional Trading of Vita Coco

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its stake in shares of 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 acquiring an additional 1,799,168 shares in the last quarter. Woodson Capital Management LP acquired a new position in Vita Coco during the third quarter valued at approximately $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 purchasing an additional 461,748 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Vita Coco in the second quarter worth $9,859,000. Finally, Harbor Capital Advisors Inc. raised its holdings in Vita Coco by 143.0% in the 3rd 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 period. 88.49% of the stock is 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.