Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) COO Sells $557,981.96 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 14,836 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.61, for a total transaction of $557,981.96. Following the sale, the chief operating officer now directly owns 105,417 shares of the company’s stock, valued at approximately $3,964,733.37. This trade represents a 12.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Jonathan Burth also recently made the following trade(s):

• On Monday, December 16th, Jonathan Burth sold 912 shares of Vita Coco stock. The shares were sold at an average price of $37.53, for a total transaction of $34,227.36.
• On Monday, December 2nd, Jonathan Burth sold 10,000 shares of Vita Coco stock. The shares were sold at an average price of $35.69, for a total value of $356,900.00.
• On Monday, October 28th, Jonathan Burth sold 1,400 shares of Vita Coco stock. The stock was sold at an average price of $30.04, for a total value of $42,056.00.
• On Tuesday, October 22nd, Jonathan Burth sold 905 shares of Vita Coco stock. The shares were sold at an average price of $30.04, for a total value of $27,186.20.
• On Wednesday, October 16th, Jonathan Burth sold 400 shares of Vita Coco stock. The shares were sold at an average price of $30.00, for a total value of $12,000.00.
• On Monday, September 30th, Jonathan Burth sold 2,244 shares of Vita Coco stock. The shares were sold at an average price of $30.01, for a total transaction of $67,342.44.

Vita Coco Price Performance

COCO opened at $35.68 on Thursday. The Vita Coco Company, Inc. has a fifty-two week low of $19.41 and a fifty-two week high of $37.88. The company’s 50 day moving average price is $33.62 and its two-hundred day moving average price is $29.41. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06. The company had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $138.56 million. Vita Coco had a net margin of 11.99% and a return on equity of 26.49%. Vita Coco’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, equities research analysts predict that The Vita Coco Company, Inc. will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently made changes to their positions in COCO. Lord Abbett & CO. LLC boosted its holdings in Vita Coco by 21.1% in the third quarter. Lord Abbett & CO. LLC now owns 460,416 shares of the company’s stock valued at $13,034,000 after acquiring an additional 80,128 shares during the last quarter. TT International Asset Management LTD raised its holdings in Vita Coco by 1,643.7% during the 3rd quarter. TT International Asset Management LTD now owns 181,188 shares of the company’s stock worth $5,129,000 after purchasing an additional 170,797 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vita Coco by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company’s stock worth $29,494,000 after purchasing an additional 101,823 shares during the period. Barclays PLC boosted its stake in shares of Vita Coco by 200.6% in the 3rd quarter. Barclays PLC now owns 69,504 shares of the company’s stock valued at $1,969,000 after purchasing an additional 46,385 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Vita Coco during the third quarter worth $348,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COCO has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Craig Hallum upped their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.14.

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.