Insider Selling: Vita Coco Company, Inc. (NASDAQ:COCO) Director Sells 3,900 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Kenneth Sadowsky sold 3,900 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $34.69, for a total value of $135,291.00. Following the sale, the director now directly owns 635,566 shares of the company's stock, valued at approximately $22,047,784.54. This represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Vita Coco Stock Performance

Shares of COCO traded down $0.58 during trading hours on Friday, hitting $35.12. 528,567 shares of the company were exchanged, compared to its average volume of 613,876. The company has a market cap of $1.99 billion, a PE ratio of 33.36, a PEG ratio of 1.89 and a beta of 0.39. The firm's 50 day moving average is $33.89 and its 200-day moving average is $34.69. Vita Coco Company, Inc. has a 52 week low of $23.56 and a 52 week high of $40.32.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The firm had revenue of $130.92 million during the quarter, compared to the consensus estimate of $125.64 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm's revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COCO shares. Evercore ISI upped their target price on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 target price on Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Stephens reissued an "equal weight" rating and set a $32.00 price target on shares of Vita Coco in a research report on Thursday, March 27th. Wall Street Zen lowered Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Wells Fargo & Company upped their price target on Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Vita Coco currently has an average rating of "Moderate Buy" and a consensus price target of $35.88.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently modified their holdings of the stock. Pier Capital LLC increased its holdings in Vita Coco by 39.6% during the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company's stock valued at $7,405,000 after purchasing an additional 56,879 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Vita Coco during the 4th quarter valued at $1,806,000. Raymond James Financial Inc. acquired a new stake in Vita Coco during the 4th quarter valued at $7,985,000. Renaissance Technologies LLC acquired a new stake in Vita Coco during the 4th quarter valued at $458,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Vita Coco during the 4th quarter valued at $399,000. 88.49% of the stock is owned by institutional investors and hedge funds.

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.

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