Insider Selling: Vita Coco Company, Inc. (NASDAQ:COCO) Insider Sells 10,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) insider Es Charles Van sold 10,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $38.02, for a total value of $380,200.00. Following the completion of the transaction, the insider directly owned 94,127 shares of the company's stock, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Vita Coco Price Performance

Shares of NASDAQ COCO traded up $0.43 during mid-day trading on Thursday, hitting $37.19. The company had a trading volume of 417,230 shares, compared to its average volume of 617,731. Vita Coco Company, Inc. has a 1-year low of $23.56 and a 1-year high of $40.32. The company has a market capitalization of $2.11 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 1.94 and a beta of 0.37. The business's 50-day simple moving average is $35.38 and its 200 day simple moving average is $34.74.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. Vita Coco had a return on equity of 25.08% and a net margin of 11.32%. The company had revenue of $130.92 million for the quarter, compared to analysts' expectations of $125.64 million. During the same period last year, the firm earned $0.24 earnings per share. Vita Coco's quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts expect that Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

COCO has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Wells Fargo & Company lifted their price target on shares of Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Evercore ISI increased their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group set a $41.00 price objective on Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Stephens reiterated an "equal weight" rating and issued a $32.00 price objective on shares of Vita Coco in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Vita Coco presently has an average rating of "Moderate Buy" and an average price target of $35.88.

Institutional Trading of Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its position in Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after acquiring an additional 347 shares during the period. US Bancorp DE increased its position in Vita Coco by 7.5% in the 1st quarter. US Bancorp DE now owns 5,247 shares of the company's stock valued at $161,000 after acquiring an additional 364 shares during the period. CWM LLC increased its position in Vita Coco by 14.7% in the 1st quarter. CWM LLC now owns 2,868 shares of the company's stock valued at $88,000 after acquiring an additional 367 shares during the period. Principal Financial Group Inc. increased its position in Vita Coco by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 43,809 shares of the company's stock valued at $1,343,000 after acquiring an additional 521 shares during the period. Finally, Credit Agricole S A increased its position in Vita Coco by 1.5% in the 1st quarter. Credit Agricole S A now owns 36,140 shares of the company's stock valued at $1,108,000 after acquiring an additional 521 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

About Vita Coco

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.