Insider Selling: Vita Coco (NASDAQ:COCO) CEO Sells 7,741 Shares of Stock

Key Points

• Martin Roper, CEO of Vita Coco, sold 7,741 shares at an average price of $40.01, totaling approximately $309,717, reducing his stake by 2.66% to 282,915 shares valued at over $11 million.
• Vita Coco's stock has recently fallen by 7.2%, trading at $39.26, despite reporting a favorable quarterly earnings growth of 17.1% year-over-year in revenue.
• Analysts have mixed views, with Wells Fargo increasing its target price to $45 and Piper Sandler upgrading the rating to "overweight", while Wall Street Zen downgraded from "buy" to "hold".

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 7,741 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $40.01, for a total value of $309,717.41. Following the transaction, the chief executive officer directly owned 282,915 shares of the company's stock, valued at $11,319,429.15. The trade was a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, September 17th, Martin Roper sold 15,000 shares of Vita Coco stock. The shares were sold at an average price of $40.23, for a total value of $603,450.00.
• On Wednesday, September 17th, Martin Roper sold 5,000 shares of Vita Coco stock. The stock was sold at an average price of $40.22, for a total value of $201,100.00.
• On Tuesday, September 16th, Martin Roper sold 2,765 shares of Vita Coco stock. The stock was sold at an average price of $40.01, for a total value of $110,627.65.
• On Friday, September 12th, Martin Roper sold 15,000 shares of Vita Coco stock. The shares were sold at an average price of $40.01, for a total value of $600,150.00.
• On Friday, September 12th, Martin Roper sold 5,000 shares of Vita Coco stock. The shares were sold at an average price of $40.02, for a total transaction of $200,100.00.

Vita Coco Trading Up 3.2%

NASDAQ:COCO traded up $1.26 during trading hours on Monday, reaching $40.99. The company had a trading volume of 2,016,465 shares, compared to its average volume of 1,110,066. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 2.10 and a beta of 0.36. The firm's 50 day moving average price is $36.53 and its 200-day moving average price is $34.81. Vita Coco Company, Inc. has a 52 week low of $25.79 and a 52 week high of $42.81.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The business had revenue of $168.76 million during the quarter, compared to the consensus estimate of $162.20 million. Vita Coco had a return on equity of 24.99% and a net margin of 11.50%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Vita Coco has set its FY 2025 guidance at EPS. On average, analysts forecast that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on COCO. Wall Street Zen downgraded shares of Vita Coco from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Morgan Stanley boosted their target price on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Piper Sandler upgraded Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price objective on the stock in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price target on Vita Coco from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.38.

Institutional Trading of Vita Coco

Several hedge funds and other institutional investors have recently bought and sold shares of COCO. Voya Investment Management LLC increased its position in shares of Vita Coco by 3,376.9% in the first quarter. Voya Investment Management LLC now owns 586,969 shares of the company's stock valued at $17,991,000 after buying an additional 570,087 shares in the last quarter. Marshall Wace LLP purchased a new position in Vita Coco during the second quarter valued at $9,627,000. Wellington Management Group LLP grew its position in shares of Vita Coco by 102.2% in the first quarter. Wellington Management Group LLP now owns 511,462 shares of the company's stock valued at $15,676,000 after purchasing an additional 258,521 shares during the period. Victory Capital Management Inc. increased its stake in shares of Vita Coco by 62.2% during the first quarter. Victory Capital Management Inc. now owns 645,225 shares of the company's stock worth $19,776,000 after purchasing an additional 247,339 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of Vita Coco during the 2nd quarter worth about $5,054,000. Institutional investors 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.