Driehaus Capital Management LLC Purchases 122,674 Shares of Vita Coco Company, Inc. $COCO

Key Points

• Driehaus Capital Management LLC increased its stake in Vita Coco Company by 14.4%, owning 977,291 shares valued at approximately $29.95 million.
• Insider trading activity included significant sales, with CMO Jane Prior and another insider each selling 10,000 shares, indicating a decrease in their respective holdings.
• Vita Coco reported a revenue of $168.76 million in its latest quarterly earnings, surpassing analyst estimates and reflecting a 17.1% year-over-year increase.

Driehaus Capital Management LLC lifted its position in shares of Vita Coco Company, Inc. (NASDAQ:COCO - Free Report) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 977,291 shares of the company's stock after purchasing an additional 122,674 shares during the period. Driehaus Capital Management LLC owned 1.72% of Vita Coco worth $29,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Vita Coco by 7.5% during the first quarter. US Bancorp DE now owns 5,247 shares of the company's stock worth $161,000 after purchasing an additional 364 shares during the period. CWM LLC increased its stake in shares of Vita Coco by 14.7% during the first quarter. CWM LLC now owns 2,868 shares of the company's stock worth $88,000 after purchasing an additional 367 shares during the period. Principal Financial Group Inc. increased its stake in shares of Vita Coco by 1.2% during the first quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock worth $1,343,000 after purchasing an additional 521 shares during the period. Credit Agricole S A increased its stake in shares of Vita Coco by 1.5% during the first quarter. Credit Agricole S A now owns 36,140 shares of the company's stock worth $1,108,000 after purchasing an additional 521 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Vita Coco by 16.5% during the first quarter. PNC Financial Services Group Inc. now owns 5,343 shares of the company's stock worth $164,000 after purchasing an additional 758 shares during the period. Institutional investors own 88.49% of the company's stock.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 3,152 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $37.02, for a total value of $116,687.04. Following the sale, the director owned 635,189 shares of the company's stock, valued at approximately $23,514,696.78. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Es Charles Van sold 10,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the completion of the transaction, the insider owned 94,127 shares of the company's stock, valued at $3,578,708.54. The trade was a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,952 shares of company stock worth $1,500,913. 34.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COCO. Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research note on Wednesday, August 20th. Wells Fargo & Company increased their price target on Vita Coco from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley increased their price target on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Vita Coco Price Performance

NASDAQ:COCO traded down $0.17 during trading hours on Wednesday, reaching $36.56. 467,977 shares of the company were exchanged, compared to its average volume of 728,461. The company has a market capitalization of $2.08 billion, a P/E ratio of 34.16, a P/E/G ratio of 1.89 and a beta of 0.36. Vita Coco Company, Inc. has a 1-year low of $24.09 and a 1-year high of $40.32. The business has a 50 day moving average of $35.90 and a 200 day moving average of $34.47.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The firm had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The company's revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

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.