Vita Coco (NASDAQ:COCO) CMO Sells $2,646,000.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $52.92, for a total value of $2,646,000.00. Following the transaction, the chief marketing officer owned 127,399 shares in the company, valued at approximately $6,741,955.08. This represents a 28.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Vita Coco Price Performance

COCO stock opened at $57.69 on Thursday. Vita Coco Company, Inc. has a 1-year low of $25.79 and a 1-year high of $59.88. The business has a 50-day moving average price of $54.74 and a 200 day moving average price of $48.14. The company has a market capitalization of $3.29 billion, a P/E ratio of 48.89, a PEG ratio of 1.73 and a beta of 0.37.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The business had revenue of $127.79 million during the quarter, compared to the consensus estimate of $117.80 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COCO shares. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Vita Coco in a report on Monday, December 29th. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and raised their price target for the company from $48.00 to $54.00 in a report on Monday, November 17th. Piper Sandler lifted their price objective on shares of Vita Coco from $47.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Vita Coco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and a consensus price target of $54.88.

Institutional Investors Weigh In On Vita Coco

A number of large investors have recently bought and sold shares of COCO. Caitong International Asset Management Co. Ltd lifted its stake in Vita Coco by 2,636.8% during the 4th 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 lifted its position in Vita Coco by 22,500.0% during the third quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the period. Quarry LP boosted its holdings in Vita Coco by 12,633.3% in the third quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. MAI Capital Management purchased a new stake in Vita Coco in the second quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its position 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 worth $49,000 after purchasing an additional 1,344 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

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.