Vita Coco (NASDAQ:COCO) Stock Price Down 5.9% Following Insider Selling

Key Points

• Vita Coco's stock price fell by 5.9% to $37.94 following insider selling, with trading volume dropping 68% from the average.
• CEO Martin Roper sold a total of 20,000 shares at an average price of $40.15, resulting in a 5.4% decrease in his stake in the company.
• Despite recent declines, several analysts have rated the stock as a "Moderate Buy", with an average price target of $38.63.

Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report)'s stock price fell 5.9% during trading on Thursday following insider selling activity. The company traded as low as $38.11 and last traded at $37.94. 250,250 shares changed hands during trading, a decline of 68% from the average session volume of 778,778 shares. The stock had previously closed at $40.30.

Specifically, CEO Martin Roper sold 15,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $40.14, for a total transaction of $602,100.00. Following the transaction, the chief executive officer owned 262,915 shares of the company's stock, valued at $10,553,408.10. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Martin Roper sold 5,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $40.17, for a total value of $200,850.00. Following the sale, the chief executive officer owned 329,297 shares in the company, valued at $13,227,860.49. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Chairman Michael Kirban sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $41.53, for a total value of $830,600.00. Following the sale, the chairman directly owned 1,529,049 shares in the company, valued at $63,501,404.97. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

COCO has been the subject of a number of research reports. Piper Sandler raised Vita Coco from a "neutral" rating to an "overweight" rating and set a $39.00 price target for the company in a research note on Wednesday, August 20th. Morgan Stanley increased their price objective on Vita Coco from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Needham & Company LLC initiated coverage on Vita Coco in a research note on Wednesday. They issued a "hold" rating on the stock. Wall Street Zen downgraded Vita Coco from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Wells Fargo & Company lifted their target price on Vita Coco from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.63.

Vita Coco Stock Down 6.6%

The business has a fifty day simple moving average of $36.64 and a two-hundred day simple moving average of $34.89. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.18 and a beta of 0.36.

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, beating analysts' consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The company had revenue of $168.76 million during the quarter, compared to analysts' expectations of $162.20 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. Vita Coco's quarterly revenue was up 17.1% compared to the same quarter last year. Vita Coco has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of Vita Coco by 24.9% during the 4th quarter. Millennium Management LLC now owns 25,515 shares of the company's stock valued at $942,000 after acquiring an additional 5,087 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Vita Coco by 1.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,555 shares of the company's stock valued at $6,111,000 after acquiring an additional 2,587 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Vita Coco by 173.2% during the 4th quarter. Wellington Management Group LLP now owns 252,941 shares of the company's stock valued at $9,336,000 after acquiring an additional 160,353 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Vita Coco by 3,258.2% during the 1st quarter. GAMMA Investing LLC now owns 26,328 shares of the company's stock valued at $859,000 after acquiring an additional 25,544 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Vita Coco by 6.3% during the 1st quarter. Rhumbline Advisers now owns 57,168 shares of the company's stock valued at $1,752,000 after acquiring an additional 3,393 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

Vita Coco Company Profile

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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