Martin Roper Sells 4,456 Shares of Vita Coco (NASDAQ:COCO) Stock

Key Points

• CEO Martin Roper sold 4,456 shares on April 13 at an average price of $50.55 and had earlier sold 25,000 shares on April 10 and 25,000 on April 8 — a total of 54,456 shares sold for roughly $2.75M, executed under a pre-arranged Rule 10b5-1 plan, leaving him with 298,484 shares (a 1.47% decline).
• Vita Coco is a roughly $2.83 billion company with a P/E of 42.06 and a 12‑month trading range of $29.74–$61.39, and analysts give it a "Moderate Buy" consensus with an average target of about $59.43 (mixed rating changes from firms like Morgan Stanley, Evercore and Weiss Ratings).

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 4,456 shares of the company's stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $50.55, for a total transaction of $225,250.80. Following the sale, the chief executive officer directly owned 298,484 shares of the company's stock, valued at $15,088,366.20. This represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction 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 transaction of $1,273,750.00.

Vita Coco Price Performance

COCO traded up $1.24 on Tuesday, hitting $49.63. 943,458 shares of the stock were exchanged, compared to its average volume of 1,630,148. Vita Coco Company, Inc. has a 12 month low of $29.74 and a 12 month high of $61.39. The business has a 50-day moving average of $53.74 and a two-hundred day moving average of $50.53. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 1.52 and a beta of 0.47.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a return on equity of 23.19% and a net margin of 11.70%.The firm had revenue of $127.79 million for the quarter, compared to the consensus estimate of $117.80 million. During the same period in the prior year, the company earned $0.06 EPS. The company's revenue for the quarter was up .4% compared to the same quarter last year. 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

Several institutional investors have recently bought and sold shares of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company's stock valued at $720,000 after buying an additional 1,174 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Vita Coco by 5,376.0% in the second 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. Marshall Wace LLP acquired a new position in shares of Vita Coco in the second quarter valued at approximately $9,627,000. Cerity Partners LLC acquired a new position in shares of Vita Coco in the second quarter valued at approximately $645,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Vita Coco in the second quarter valued at approximately $2,990,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on COCO shares. Morgan Stanley boosted their target price 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. Wall Street Zen downgraded Vita Coco from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of Vita Coco in a research note on Friday, March 27th. Evercore reissued an "outperform" rating and set a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Finally, Zacks Research downgraded Vita Coco from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Vita Coco has an average rating of "Moderate Buy" and a consensus target price of $59.43.

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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