Insider Selling: Vita Coco (NASDAQ:COCO) Director Sells 30,000 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $56.65, for a total transaction of $1,699,500.00. Following the completion of the sale, the director directly owned 572,579 shares in the company, valued at approximately $32,436,600.35. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ira Liran also recently made the following trade(s):

• On Thursday, February 5th, Ira Liran sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $56.66, for a total transaction of $1,133,200.00.
• On Monday, November 24th, Ira Liran sold 33,862 shares of Vita Coco stock. The stock was sold at an average price of $50.27, for a total transaction of $1,702,242.74.
• On Monday, November 24th, Ira Liran sold 25,381 shares of Vita Coco stock. The shares were sold at an average price of $50.29, for a total transaction of $1,276,410.49.
• On Monday, November 17th, Ira Liran sold 26,138 shares of Vita Coco stock. The stock was sold at an average price of $50.09, for a total transaction of $1,309,252.42.
• On Monday, November 17th, Ira Liran sold 14,619 shares of Vita Coco stock. The shares were sold at an average price of $50.10, for a total value of $732,411.90.
• On Monday, November 17th, Ira Liran sold 14,619 shares of Vita Coco stock. The stock was sold at an average price of $50.10, for a total value of $732,411.90.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded up $1.97 on Friday, hitting $58.96. The company’s stock had a trading volume of 739,012 shares, compared to its average volume of 651,408. The company has a market capitalization of $3.36 billion, a PE ratio of 47.10, a PEG ratio of 1.61 and a beta of 0.38. The company has a 50-day simple moving average of $54.01 and a 200 day simple moving average of $44.81. Vita Coco Company, Inc. has a 1 year low of $25.79 and a 1 year high of $59.05.

Institutional Investors Weigh In On Vita Coco

Institutional investors have recently bought and sold shares of the stock. Clearstead Advisors LLC increased its stake in 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 raised 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 buying an additional 758 shares during the last quarter. MAI Capital Management purchased a new stake in Vita Coco during the 2nd quarter valued at $33,000. EverSource Wealth Advisors LLC grew its holdings in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after acquiring an additional 1,344 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Vita Coco in the 2nd quarter worth $50,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COCO. Wall Street Zen raised shares of Vita Coco from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Bank of America raised Vita Coco from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $48.00 to $54.00 in a research note on Monday, November 17th. Evercore upped their price objective on Vita Coco from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Wells Fargo & Company raised their price objective on Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.50.

About Vita Coco

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.