20,021 Shares in Vita Coco Company, Inc. $COCO Purchased by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC purchased 20,021 Vita Coco shares worth approximately $1.325 million in the second quarter. Institutional investors collectively own 88.49% of the company.
• Vita Coco reported strong quarterly results, with EPS of $0.82 beating estimates by $0.26 and revenue rising 28.1% year over year to $216.15 million.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $77.71, although insiders sold $27.4 million worth of shares over the past three months.

Jupiter Topco LLC bought a new stake in Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,021 shares of the company's stock, valued at approximately $1,325,000.

Several other large investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vita Coco by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after purchasing an additional 1,174 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Vita Coco by 5,376.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock valued at $49,000 after buying an additional 1,344 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Vita Coco during the 2nd quarter worth approximately $9,627,000. Cerity Partners LLC purchased a new stake in shares of Vita Coco during the 2nd quarter worth approximately $645,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vita Coco in the second quarter valued at $2,990,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Insider Activity at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the transaction, the director owned 580,296 shares in the company, valued at approximately $48,118,144.32. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 73,842 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.32, for a total value of $5,930,989.44. Following the sale, the director directly owned 402,579 shares in the company, valued at $32,335,145.28. This trade represents a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 343,900 shares of company stock worth $27,403,488. 12.90% of the stock is owned by corporate insiders.

Vita Coco Price Performance

NASDAQ:COCO opened at $55.13 on Friday. Vita Coco Company, Inc. has a 1-year low of $37.27 and a 1-year high of $85.83. The stock has a market cap of $3.16 billion, a P/E ratio of 30.46, a PEG ratio of 1.04 and a beta of 0.75. The firm has a 50-day moving average of $66.32 and a two-hundred day moving average of $64.14.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $216.15 million for the quarter, compared to analyst estimates of $210.64 million. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business's revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. As a group, equities analysts expect that Vita Coco Company, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on COCO. Citigroup reiterated a "buy" rating on shares of Vita Coco in a research report on Tuesday, May 26th. Evercore boosted their price objective on shares of Vita Coco from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of Vita Coco in a research report on Wednesday, July 29th. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Wells Fargo & Company raised their price objective on Vita Coco from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.71.

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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