Es Charles Van Sells 8,561 Shares of Vita Coco (NASDAQ:COCO) Stock

Key Points

• Insider sale: Vita Coco insider Es Charles Van sold 8,561 shares at an average price of $70.00, totaling about $599,270. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 11.31%.
• Strong quarterly results: Vita Coco reported Q1 earnings of $0.50 per share, beating estimates of $0.34, on revenue of $179.77 million versus expectations of $148.39 million. Revenue jumped 37.4% year over year.
• Stock and analyst outlook: Shares rose 1.2% to $72.46, near the 12-month high of $72.98. Analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $69.00.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) insider Es Charles Van sold 8,561 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $70.00, for a total value of $599,270.00. Following the completion of the transaction, the insider owned 67,130 shares of the company's stock, valued at approximately $4,699,100. The trade was a 11.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $66.87, for a total value of $133,740.00.
• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $48.67, for a total value of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.

Vita Coco Stock Up 1.2%

Shares of NASDAQ:COCO traded up $0.86 during trading on Monday, hitting $72.46. The stock had a trading volume of 1,258,927 shares, compared to its average volume of 1,265,010. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $72.98. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 52.89, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. The stock has a 50-day simple moving average of $53.54 and a two-hundred day simple moving average of $51.94.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16. The firm had revenue of $179.77 million during the quarter, compared to analysts' expectations of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The company's revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. As a group, sell-side analysts forecast that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Institutional Trading of Vita Coco

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its holdings in Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock valued at $28,000 after purchasing an additional 501 shares during the period. Clearstead Advisors LLC grew its holdings in Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 675 shares during the period. Quarry LP grew its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after purchasing an additional 758 shares during the period. GAMMA Investing LLC grew its holdings in Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock valued at $60,000 after purchasing an additional 227 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in Vita Coco by 265.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,319 shares of the company's stock valued at $70,000 after purchasing an additional 958 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Vita Coco from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Piper Sandler reiterated an "overweight" rating and set a $70.00 price target on shares of Vita Coco in a research report on Wednesday, April 29th. Wall Street Zen upgraded Vita Coco from a "sell" rating to a "buy" rating in a research report on Saturday, May 2nd. Evercore reiterated an "outperform" rating and set a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $71.00 price target on shares of Vita Coco in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Vita Coco currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Vita Coco Company Profile

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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