Vita Coco (NASDAQ:COCO) Stock Price Down 4.9% Following Insider Selling

Key Points

• Insider selling: CEO Martin Roper sold 25,000 shares at $50 (≈$1.25M) and Director Kenneth Sadowsky sold 3,900 shares at ~$48.93 under pre-arranged Rule 10b5-1 plans, and the stock slid about 4.9% intraday to roughly $45.98 on below-average volume.
• Quarterly performance: Vita Coco missed EPS estimates ($0.09 vs. $0.13) but topped revenue expectations ($127.8M vs. $117.8M); the stock trades at a P/E of 39.03 with a market cap of about $2.63 billion.
• Analyst stance: The consensus is a "Moderate Buy" with an average price target of $59.43, while recent analyst actions range from Evercore's $70 target to Wells Fargo's $60 and Morgan Stanley's $57.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) fell 4.9% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $45.85 and last traded at $45.9750. 690,208 shares traded hands during trading, a decline of 40% from the average session volume of 1,156,284 shares. The stock had previously closed at $48.32.

Specifically, CEO Martin Roper sold 25,000 shares of Vita Coco stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the chief executive officer directly owned 298,484 shares in the company, valued at approximately $14,924,200. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Sadowsky sold 3,900 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $48.93, for a total transaction of $190,827.00. Following the completion of the transaction, the director owned 586,566 shares in the company, valued at $28,700,674.38. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other news, CEO Martin Roper sold 25,000 shares of the company's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the chief executive officer owned 298,484 shares in the company, valued at approximately $14,924,200. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Vita Coco from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Vita Coco in a report on Friday, March 27th. Evercore reissued an "outperform" rating and set a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Wells Fargo & Company reduced their price objective on shares of Vita Coco from $63.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. Finally, Morgan Stanley raised their target price on shares of Vita Coco from $49.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.43.

Vita Coco Trading Down 4.5%

The stock has a market cap of $2.63 billion, a P/E ratio of 39.03, a PEG ratio of 1.52 and a beta of 0.47. The firm has a 50-day simple moving average of $53.25 and a two-hundred day simple moving average of $50.66.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share (EPS) 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 business had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business's revenue was up .4% on a year-over-year basis. Sell-side analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COCO. Caitong International Asset Management Co. Ltd increased its stake in Vita Coco by 2,636.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company's stock worth $28,000 after purchasing an additional 501 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company's stock worth $29,000 after purchasing an additional 675 shares during the period. Quarry LP boosted its holdings in Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company's stock valued at $32,000 after acquiring an additional 758 shares during the period. GAMMA Investing LLC raised its position in shares of Vita Coco by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company's stock worth $60,000 after acquiring an additional 227 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Vita Coco during the 3rd quarter valued at about $54,000. 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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