Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Sells 3,888 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 3,888 shares of Vita Coco stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $37.01, for a total transaction of $143,894.88. Following the transaction, the chief marketing officer now owns 131,834 shares in the company, valued at approximately $4,879,176.34. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Vita Coco Trading Up 0.6 %

Shares of Vita Coco stock opened at $36.34 on Tuesday. The company has a market cap of $2.06 billion, a P/E ratio of 36.48, a PEG ratio of 2.36 and a beta of 0.22. The business has a 50-day moving average price of $30.85 and a two-hundred day moving average price of $28.25. The Vita Coco Company, Inc. has a 1-year low of $19.41 and a 1-year high of $37.05.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. The firm had revenue of $133.00 million for the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

A number of large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. boosted its position in shares of Vita Coco by 143.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company’s stock worth $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Raymond James & Associates acquired a new stake in Vita Coco in the third quarter valued at approximately $3,990,000. American Century Companies Inc. increased its holdings in shares of Vita Coco by 42.2% during the second quarter. American Century Companies Inc. now owns 80,129 shares of the company’s stock valued at $2,232,000 after acquiring an additional 23,761 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Vita Coco by 106.4% during the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock worth $25,358,000 after purchasing an additional 461,748 shares during the period. Finally, Pier Capital LLC lifted its holdings in shares of Vita Coco by 37.7% in the 2nd quarter. Pier Capital LLC now owns 292,073 shares of the company’s stock worth $8,134,000 after purchasing an additional 79,957 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upped their price target on Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.