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

Key Points

• CEO Martin Roper sold 25,000 shares on April 14 at an average price of $50.00 for $1.25M under a pre-arranged Rule 10b5-1 plan, cutting his direct stake by 7.73% to 298,484 shares (≈$14.9M).
• Roper also sold 25,000 shares on April 8, 25,000 on April 10 and 4,456 on April 13, totaling 79,456 shares sold in the period for roughly $4.0M.
• Shares fell about 2.9% to $48.33 amid the trades; the company recently missed EPS estimates ($0.09 vs. $0.13) despite a revenue beat, has a market cap of ≈$2.76B, and a consensus analyst rating of Moderate Buy with an average target of $59.43.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 25,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief executive officer directly owned 298,484 shares of the company's stock, valued at $14,924,200. This represents a 7.73% decrease in their ownership of the stock. 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 13th, Martin Roper sold 4,456 shares of Vita Coco stock. The shares were 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 Trading Down 2.9%

NASDAQ COCO traded down $1.46 on Thursday, hitting $48.33. The company's stock had a trading volume of 895,898 shares, compared to its average volume of 1,164,930. Vita Coco Company, Inc. has a 52-week low of $29.74 and a 52-week high of $61.39. The firm has a market cap of $2.76 billion, a P/E ratio of 40.96, a PEG ratio of 1.56 and a beta of 0.47. The company's 50-day simple moving average is $53.63 and its 200 day simple moving average is $50.52.

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 analysts' consensus estimates of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company had revenue of $127.79 million for the quarter, compared to the consensus estimate of $117.80 million. During the same period last year, the business earned $0.06 EPS. The firm's quarterly revenue was up .4% on a year-over-year basis. On average, research analysts forecast that Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vita Coco by 5.3% during the 1st 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in 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 acquiring an additional 1,344 shares during the last quarter. Marshall Wace LLP acquired a new position in Vita Coco in the second quarter valued at approximately $9,627,000. Cerity Partners LLC acquired a new position in Vita Coco in the second quarter valued at approximately $645,000. Finally, Qube Research & Technologies Ltd acquired a new position in Vita Coco in the second quarter valued at approximately $2,990,000. 88.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COCO. Wells Fargo & Company reduced their target price on Vita Coco from $63.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Morgan Stanley boosted their price objective 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. 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 price objective on shares of Vita Coco in a research note on Thursday, March 12th. Finally, Wall Street Zen cut Vita Coco from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Vita Coco has a consensus rating of "Moderate Buy" and an average price target 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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