Vita Coco (NASDAQ:COCO) Director Ira Liran Sells 3,152 Shares

Key Points

• Vita Coco Director Ira Liran sold 3,152 shares of the company's stock at an average price of $37.02, totaling approximately $116,687, and now owns 635,189 shares valued at about $23.5 million.
• The company's share price decreased by 7.1%, trading at $34.14 amid a high trading volume of over 1.4 million shares.
• Vita Coco recently reported earnings of $0.38 EPS for the quarter, exceeding expectations and showing a 17.1% increase in revenue year-over-year.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) Director Ira Liran sold 3,152 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $37.02, for a total transaction of $116,687.04. Following the sale, the director owned 635,189 shares of the company's stock, valued at approximately $23,514,696.78. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Vita Coco Stock Down 7.1%

Shares of NASDAQ COCO traded down $2.59 during mid-day trading on Monday, reaching $34.14. 1,435,734 shares of the company were exchanged, compared to its average volume of 729,424. The company's 50-day simple moving average is $35.92 and its 200-day simple moving average is $34.64. The stock has a market capitalization of $1.94 billion, a P/E ratio of 31.91, a P/E/G ratio of 1.94 and a beta of 0.37. Vita Coco Company, Inc. has a twelve month low of $24.09 and a twelve month high of $40.32.

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

Hedge Funds Weigh In On Vita Coco

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Vanguard Group Inc. grew its holdings in Vita Coco by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,642,306 shares of the company's stock worth $80,987,000 after purchasing an additional 53,172 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Vita Coco by 6.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company's stock valued at $41,713,000 after buying an additional 64,011 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vita Coco by 2.9% during the second quarter. Geode Capital Management LLC now owns 1,018,132 shares of the company's stock valued at $36,759,000 after purchasing an additional 28,448 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Vita Coco by 14.4% during the first quarter. Driehaus Capital Management LLC now owns 977,291 shares of the company's stock valued at $29,954,000 after purchasing an additional 122,674 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Vita Coco by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 904,755 shares of the company's stock valued at $33,393,000 after purchasing an additional 51,944 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Evercore ISI raised their price target on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Piper Sandler upgraded shares of Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 target price on the stock in a research report on Wednesday, August 20th. Morgan Stanley increased their target price on shares of Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group set a $41.00 target price on shares of Vita Coco and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.38.

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.

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