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 firm's stock in a transaction that occurred on 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 owned 94,127 shares in the company, valued at approximately $3,578,708.54. This trade represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded down $0.31 during midday trading on Friday, hitting $36.88. The company had a trading volume of 204,090 shares, compared to its average volume of 616,151. The business's 50-day simple moving average is $35.38 and its 200-day simple moving average is $34.74. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 1.94 and a beta of 0.37. Vita Coco Company, Inc. has a twelve month low of $23.56 and a twelve month high of $40.32.

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

Institutional Investors Weigh In On Vita Coco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TT International Asset Management LTD acquired a new stake in Vita Coco during the first quarter worth $3,035,000. Pier Capital LLC lifted its holdings in Vita Coco by 39.6% during the 4th quarter. Pier Capital LLC now owns 200,623 shares of the company's stock worth $7,405,000 after buying an additional 56,879 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Vita Coco during the 4th quarter worth about $1,806,000. GAMMA Investing LLC lifted its holdings in Vita Coco by 3,258.2% during the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock worth $859,000 after buying an additional 25,544 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Vita Coco during the fourth quarter worth about $7,985,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on COCO. Evercore ISI raised their target price on Vita Coco from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Stephens restated an "equal weight" rating and issued a $32.00 target price on shares of Vita Coco in a research report on Thursday, March 27th. The Goldman Sachs Group set a $41.00 price target on Vita Coco and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price target on Vita Coco from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Wall Street Zen cut Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and an average target price of $35.88.

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.