The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Sells $179,250.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $35.85, for a total value of $179,250.00. Following the sale, the chief executive officer now owns 452,452 shares in the company, valued at approximately $16,220,404.20. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Vita Coco Trading Down 0.6 %

Shares of COCO stock opened at $33.85 on Friday. The company has a market capitalization of $1.92 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.22 and a beta of 0.22. The business’s 50 day moving average is $29.54 and its two-hundred day moving average is $27.77. The Vita Coco Company, Inc. has a 12-month low of $19.41 and a 12-month high of $36.41.

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

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of COCO. nVerses Capital LLC raised its holdings in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $72,000 after acquiring an additional 1,900 shares during the last quarter. CWM LLC raised its holdings in shares of Vita Coco by 40.7% during the second quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after acquiring an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after acquiring an additional 919 shares during the last quarter. Comerica Bank raised its holdings in shares of Vita Coco by 1,155.7% during the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after acquiring an additional 3,675 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group lowered their target price on Vita Coco from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Craig Hallum upped their target price on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.