Vita Coco (NASDAQ:COCO) CEO Sells $1,252,750.00 in Stock

Key Points

• CEO sale: Vita Coco CEO Martin Roper sold 25,000 shares on April 10 at $50.11 for $1,252,750, reducing his stake to 298,484 shares (a 7.73% ownership decline); the transaction was made under a pre-arranged Rule 10b5-1 plan and disclosed on an SEC Form 4.
• Additional insider sales: Roper also sold 25,000 shares on April 8 and 4,456 shares on April 13, bringing the proceeds from these three trades to about $2.75 million.
• Company and analyst context: Vita Coco missed quarterly EPS estimates ($0.09 vs. $0.13) but beat revenue expectations, the stock trades near the $50 area (market cap ~$2.83B), and analysts have an average rating of "Moderate Buy" with a $59.43 price target.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CEO Martin Roper sold 25,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $50.11, for a total value of $1,252,750.00. Following the sale, the chief executive officer owned 298,484 shares in the company, valued at approximately $14,957,033.24. This trade represents a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.95, for a total value of $1,273,750.00.

Vita Coco Stock Performance

COCO stock traded up $1.24 during midday trading on Tuesday, reaching $49.63. 943,458 shares of the company traded hands, compared to its average volume of 1,630,148. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 41.01, a P/E/G ratio of 1.52 and a beta of 0.47. The business has a 50 day moving average of $53.74 and a 200-day moving average of $50.53. Vita Coco Company, Inc. has a 52-week low of $29.74 and a 52-week high of $61.39.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. Research analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

COCO has been the topic of a number of analyst reports. Wall Street Zen cut Vita Coco from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Wells Fargo & Company cut their target price on Vita Coco from $63.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vita Coco in a research note on Friday, March 27th. Zacks Research cut Vita Coco from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Finally, Evercore reaffirmed an "outperform" rating and set a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $59.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in Vita Coco by 10.3% during the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company's stock worth $21,703,000 after buying an additional 47,632 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Vita Coco during the third quarter worth $45,135,000. Hussman Strategic Advisors Inc. purchased a new stake in Vita Coco during the third quarter worth $2,230,000. Harbor Capital Advisors Inc. purchased a new stake in Vita Coco during the third quarter worth $821,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Vita Coco during the third quarter worth $62,815,000. Institutional investors own 88.49% of the company's stock.

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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