Insider Selling: Vita Coco (NASDAQ:COCO) CFO Sells 1,000 Shares of Stock

Key Points

• Corey Baker, CFO of Vita Coco, sold 1,000 shares of company stock on September 8th at an average price of $38.51, resulting in a total transaction of $38,510 and a 2.34% decrease in his ownership.
• Vita Coco's stock recently traded at $38.59, with a market cap of $2.19 billion and a 52-week trading range between $25.23 and $40.32.
• The company reported a 17.1% increase in revenue compared to the previous year, with last quarter's earnings per share exceeding consensus estimates at $0.38.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 1,000 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $38.51, for a total transaction of $38,510.00. Following the transaction, the chief financial officer owned 41,754 shares in the company, valued at approximately $1,607,946.54. This trade represents a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Corey Baker also recently made the following trade(s):

• On Friday, September 5th, Corey Baker sold 1,000 shares of Vita Coco stock. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $0.20 during trading on Tuesday, reaching $38.59. The company had a trading volume of 1,834,057 shares, compared to its average volume of 738,592. Vita Coco Company, Inc. has a 52 week low of $25.23 and a 52 week high of $40.32. The business's 50 day moving average price is $36.06 and its 200-day moving average price is $34.41. The stock has a market cap of $2.19 billion, a PE ratio of 36.07, a PEG ratio of 2.04 and a beta of 0.36.

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

Hedge Funds Weigh In On Vita Coco

A number of hedge funds and other institutional investors have recently made changes to their positions in COCO. Vanguard Group Inc. increased its position in shares of Vita Coco by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock valued at $80,987,000 after buying an additional 53,172 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Vita Coco by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company's stock worth $36,759,000 after acquiring an additional 28,448 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Vita Coco by 14.4% during the first quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company's stock worth $29,954,000 after purchasing an additional 122,674 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of Vita Coco by 16.2% during the 1st quarter. GW&K Investment Management LLC now owns 756,646 shares of the company's stock valued at $23,191,000 after purchasing an additional 105,401 shares in the last quarter. Finally, Aberdeen Group plc lifted its holdings in shares of Vita Coco by 14.6% during the 1st quarter. Aberdeen Group plc now owns 725,922 shares of the company's stock valued at $22,250,000 after purchasing an additional 92,590 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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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