Vita Coco (NASDAQ:COCO) COO Sells $2,250,000.00 in Stock

Key Points

• Vita Coco COO Jonathan Burth sold 30,000 shares on May 12 at $75.00 each, totaling $2.25 million. After the sale, he still held 57,910 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• Burth has been активно selling shares in recent weeks, including additional sales of 20,000 shares on May 8, 20,000 on April 30, 40,000 on April 29, and 60,000 on March 16.
• Vita Coco reported strong quarterly results, with EPS of $0.50 versus the $0.34 estimate and revenue of $179.77 million, up 37.4% year over year. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $69.00.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) COO Jonathan Burth sold 30,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the transaction, the chief operating officer owned 57,910 shares in the company, valued at $4,343,250. This represents a 34.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Burth also recently made the following trade(s):

• On Friday, May 8th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $70.00, for a total transaction of $1,400,000.00.
• On Thursday, April 30th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $67.50, for a total transaction of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The shares were sold at an average price of $63.75, for a total transaction of $2,550,000.00.
• On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The shares were sold at an average price of $58.65, for a total transaction of $3,519,000.00.

Vita Coco Stock Performance

Shares of NASDAQ COCO traded up $0.16 during midday trading on Wednesday, hitting $74.77. 1,762,717 shares of the company's stock traded hands, compared to its average volume of 1,278,384. Vita Coco Company, Inc. has a 1 year low of $31.79 and a 1 year high of $76.35. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 54.58, a price-to-earnings-growth ratio of 1.74 and a beta of 0.72. The firm has a fifty day moving average of $54.50 and a 200 day moving average of $52.62.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.34 by $0.16. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The firm had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business's revenue for the quarter was up 37.4% compared to the same quarter last year. On average, equities analysts anticipate that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of Vita Coco by 2,636.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock valued at $28,000 after purchasing an additional 501 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Vita Coco by 22,500.0% in the third quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock valued at $29,000 after purchasing an additional 675 shares in the last quarter. Quarry LP grew its holdings in shares of Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after purchasing an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,344 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock valued at $60,000 after purchasing an additional 227 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on COCO. Wells Fargo & Company upped their price target on shares of Vita Coco from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $71.00 price target on shares of Vita Coco in a research report on Thursday, April 30th. Wall Street Zen raised shares of Vita Coco from a "sell" rating to a "buy" rating in a report on Saturday, May 2nd. Morgan Stanley set a $65.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Finally, Jefferies Financial Group increased their target price on shares of Vita Coco from $63.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

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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