Martin Roper Sells 25,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Key Points

• Vita Coco CEO Martin Roper sold 25,000 shares on April 24 at $50 each for $1.25M, executing the transaction under a Rule 10b5-1 plan and cutting his holdings to 298,484 shares (a 7.73% decrease).
• Roper has executed several similar sales throughout April (multiple 25,000-share trades plus smaller disposals), representing a sustained pattern of insider selling totaling millions of dollars this month.
• Shares trade around $51.63 with a $2.94B market cap and a P/E of 43.75; analysts are mixed but the consensus is a Moderate Buy with an average target of $59.43, after the company missed quarterly EPS ($0.09 vs. $0.13) while beating revenue estimates.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 25,000 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the chief executive officer directly owned 298,484 shares in the company, valued at approximately $14,924,200. The trade was a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Roper also recently made the following trade(s):

• On Monday, April 27th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00.
• On Thursday, April 16th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00.
• On Tuesday, April 14th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00.
• On Monday, April 13th, Martin Roper sold 4,456 shares of Vita Coco stock. The stock was sold at an average price of $50.55, for a total value of $225,250.80.
• On Friday, April 10th, Martin Roper sold 25,000 shares of Vita Coco stock. The stock was sold at an average price of $50.11, for a total value of $1,252,750.00.
• On Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The stock was sold at an average price of $50.95, for a total value of $1,273,750.00.

Vita Coco Price Performance

NASDAQ:COCO traded up $0.02 during mid-day trading on Tuesday, reaching $51.63. The company's stock had a trading volume of 1,605,486 shares, compared to its average volume of 1,166,417. The company's fifty day simple moving average is $52.18 and its two-hundred day simple moving average is $50.91. Vita Coco Company, Inc. has a twelve month low of $29.82 and a twelve month high of $61.39. The stock has a market cap of $2.94 billion, a P/E ratio of 43.75, a P/E/G ratio of 1.59 and a beta of 0.47.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The business had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. During the same period in the previous year, the business posted $0.06 earnings per share. The firm's quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts expect that Vita Coco Company, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COCO has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Vita Coco from $49.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, February 23rd. Wells Fargo & Company decreased their price target on Vita Coco from $63.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Evercore reissued an "outperform" rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Weiss Ratings reissued a "buy (b-)" rating on shares of Vita Coco in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Vita Coco from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.43.

Hedge Funds Weigh In On Vita Coco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Vita Coco by 2,636.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock valued at $28,000 after buying an additional 501 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock valued at $29,000 after buying an additional 675 shares during the period. Quarry LP raised its holdings in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock valued at $49,000 after buying an additional 1,344 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of Vita Coco during the 3rd quarter valued at about $54,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Vita Coco Company Profile

Vita Coco, Inc NASDAQ: COCO is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company's flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.

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