Insider Selling: Vita Coco (NASDAQ:COCO) Chairman Sells 20,000 Shares of Stock

Key Points

• Michael Kirban, Chairman of Vita Coco, sold 20,000 shares at an average price of $39.05, totaling $781,000, which represents a 1.25% decrease in his holdings.
• The company reported a 17.1% year-over-year increase in revenue, totaling $168.76 million, and earnings per share of $0.38, exceeding expectations.
• Institutional investors have increased their stakes in Vita Coco, with notable purchases including Bank of America Corp DE, which boosted its holdings by 382.2% in the last quarter.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Chairman Michael Kirban sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $39.05, for a total transaction of $781,000.00. Following the completion of the sale, the chairman directly owned 1,579,049 shares in the company, valued at approximately $61,661,863.45. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Michael Kirban also recently made the following trade(s):

• On Tuesday, September 9th, Michael Kirban sold 30,000 shares of Vita Coco stock. The shares were sold at an average price of $39.16, for a total transaction of $1,174,800.00.

Vita Coco Price Performance

Shares of COCO traded up $0.22 during midday trading on Monday, hitting $39.79. The stock had a trading volume of 950,839 shares, compared to its average volume of 822,130. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $40.71. The firm has a market cap of $2.26 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 2.09 and a beta of 0.36. The stock's 50 day moving average is $36.22 and its 200 day moving average is $34.55.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share 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 the consensus estimate of $162.20 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business's revenue for the quarter was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in COCO. BNP Paribas Financial Markets purchased a new position in Vita Coco during the 4th quarter valued at about $1,806,000. Bank of America Corp DE boosted its holdings in shares of Vita Coco by 382.2% in the 4th quarter. Bank of America Corp DE now owns 512,120 shares of the company's stock valued at $18,902,000 after buying an additional 405,913 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Vita Coco by 8.4% in the 4th quarter. Deutsche Bank AG now owns 150,343 shares of the company's stock valued at $5,549,000 after buying an additional 11,674 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Vita Coco by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company's stock valued at $824,000 after buying an additional 842 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Vita Coco by 24.9% in the 4th quarter. Millennium Management LLC now owns 25,515 shares of the company's stock valued at $942,000 after buying an additional 5,087 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.