Vita Coco (NASDAQ:COCO) Director Kenneth Sadowsky Sells 3,900 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Kenneth Sadowsky sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total value of $323,388.00. Following the completion of the sale, the director owned 580,296 shares of the company’s stock, valued at $48,118,144.32. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kenneth Sadowsky also recently made the following trade(s):

• On Wednesday, May 20th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $77.47, for a total value of $302,133.00.
• On Wednesday, April 15th, Kenneth Sadowsky sold 3,900 shares of Vita Coco stock. The shares were sold at an average price of $48.93, for a total value of $190,827.00.

Vita Coco Stock Performance

COCO opened at $83.90 on Friday. The company has a market capitalization of $4.79 billion, a PE ratio of 61.24, a P/E/G ratio of 2.01 and a beta of 0.74. The stock’s fifty day moving average is $67.74 and its 200-day moving average is $58.85. Vita Coco Company, Inc. has a one year low of $31.79 and a one year high of $85.83.

Vita Coco (NASDAQ:COCO) last announced its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. The business had revenue of $179.77 million during the quarter, compared to analysts’ expectations of $148.39 million. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The company’s quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. On average, equities research analysts forecast that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Evercore reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Vita Coco in a research note on Thursday, March 12th. Morgan Stanley set a $65.00 target price on shares of Vita Coco in a report on Thursday, April 30th. Piper Sandler restated an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a research report on Wednesday, April 29th. Wells Fargo & Company upped their price target on Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Citigroup reiterated a “buy” rating on shares of Vita Coco in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $70.43.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after acquiring an additional 501 shares during the period. Clearstead Advisors LLC grew its position in Vita Coco by 22,500.0% during the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares in the last quarter. Quarry LP raised its stake 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 purchasing an additional 758 shares during the period. EverSource Wealth Advisors LLC raised its stake in Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Vita Coco by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after purchasing an additional 227 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.