Vita Coco (NASDAQ:COCO) Insider Sells $603,777.25 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 8,045 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $75.05, for a total transaction of $603,777.25. Following the completion of the sale, the insider owned 59,085 shares in the company, valued at $4,434,329.25. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Es Charles Van also recently made the following trade(s):

• On Friday, May 8th, Es Charles Van sold 8,561 shares of Vita Coco stock. The stock was sold at an average price of $70.00, for a total transaction of $599,270.00.
• On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $66.87, for a total value of $133,740.00.
• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The shares were sold at an average price of $48.67, for a total value of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.

Vita Coco Stock Performance

Shares of NASDAQ COCO opened at $73.98 on Friday. Vita Coco Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $79.70. The firm has a market capitalization of $4.22 billion, a PE ratio of 54.00, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74. The stock’s 50-day simple moving average is $61.67 and its 200-day simple moving average is $56.76.

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

Wall Street Analysts Forecast Growth

COCO has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Vita Coco from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a research report on Saturday, May 2nd. Jefferies Financial Group increased their target price on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Zacks Research raised Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Evercore reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock worth $60,000 after purchasing an additional 227 shares in the last quarter. CWM LLC lifted its position in Vita Coco by 18.2% during the fourth quarter. CWM LLC now owns 1,505 shares of the company’s stock worth $80,000 after buying an additional 232 shares during the period. Mariner LLC boosted its position in shares of Vita Coco by 2.8% in the third quarter. Mariner LLC now owns 8,742 shares of the company’s stock worth $371,000 after acquiring an additional 236 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Vita Coco by 0.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 33,541 shares of the company’s stock valued at $1,424,000 after purchasing an additional 298 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Vita Coco by 4.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,472 shares of the company’s stock valued at $661,000 after acquiring an additional 489 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.