Insider Selling: Vita Coco (NASDAQ:COCO) Director Sells 50,000 Shares of Stock

Key Points

• Ira Liran, Director of Vita Coco, sold 50,000 shares at an average price of $42.00, totaling $2.1 million, which decreased his overall position by 6.73%.
• The company reported $0.38 earnings per share, surpassing analysts' expectations, and achieving a revenue increase of 17.1% compared to the previous year.
• As of the latest data, Vita Coco stock has a market capitalization of $2.26 billion and experienced a trading increase of 1.2% to a price of $39.73.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Ira Liran sold 50,000 shares of Vita Coco stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $42.00, for a total transaction of $2,100,000.00. Following the sale, the director directly owned 692,579 shares of the company's stock, valued at $29,088,318. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ira Liran also recently made the following trade(s):

• On Friday, September 12th, Ira Liran sold 40,000 shares of Vita Coco stock. The shares were sold at an average price of $40.01, for a total value of $1,600,400.00.
• On Thursday, September 4th, Ira Liran sold 2,114 shares of Vita Coco stock. The stock was sold at an average price of $37.00, for a total value of $78,218.00.
• On Wednesday, September 3rd, Ira Liran sold 14,734 shares of Vita Coco stock. The stock was sold at an average price of $37.05, for a total value of $545,894.70.
• On Friday, August 22nd, Ira Liran sold 3,152 shares of Vita Coco stock. The stock was sold at an average price of $37.02, for a total transaction of $116,687.04.

Vita Coco Stock Performance

Shares of COCO stock traded up $1.26 on Monday, hitting $40.99. 2,016,465 shares of the company's stock traded hands, compared to its average volume of 1,110,066. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 38.31, a P/E/G ratio of 2.10 and a beta of 0.36. The company's fifty day simple moving average is $36.53 and its 200 day simple moving average is $34.81. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $42.81.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) 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 analysts' expectations 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 for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Vita Coco has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Piper Sandler raised shares of 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 shares of Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of Vita Coco from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Vita Coco by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock worth $80,987,000 after buying an additional 53,172 shares during the period. Geode Capital Management LLC boosted its position in shares of Vita Coco by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company's stock valued at $36,759,000 after purchasing an additional 28,448 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of Vita Coco by 14.4% in the 1st quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company's stock worth $29,954,000 after buying 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 first 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 during the last quarter. Finally, Aberdeen Group plc boosted its position in shares of Vita Coco by 14.6% in the 1st quarter. Aberdeen Group plc now owns 725,922 shares of the company's stock worth $22,250,000 after purchasing an additional 92,590 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

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.