Insider Selling: Vita Coco (NASDAQ:COCO) Insider Sells $115,960.00 in Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $57.98, for a total value of $115,960.00. Following the completion of the sale, the insider owned 79,691 shares of the company’s stock, valued at approximately $4,620,484.18. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vita Coco Price Performance

Shares of Vita Coco stock opened at $52.88 on Friday. The business has a 50-day simple moving average of $55.17 and a 200 day simple moving average of $49.12. Vita Coco Company, Inc. has a one year low of $25.79 and a one year high of $61.39. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 1.70 and a beta of 0.37.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its position in shares of Vita Coco by 10.3% during the third quarter. New York State Common Retirement Fund now owns 511,031 shares of the company’s stock valued at $21,703,000 after buying an additional 47,632 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Vita Coco in the third quarter worth about $45,135,000. Hussman Strategic Advisors Inc. bought a new stake in Vita Coco during the 3rd quarter valued at approximately $2,230,000. Harbor Capital Advisors Inc. bought a new stake in Vita Coco during the 3rd quarter valued at approximately $821,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Vita Coco during the 3rd quarter valued at approximately $62,815,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COCO. Evercore reissued an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research report on Thursday, March 12th. Morgan Stanley upped their price objective on shares of Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Wells Fargo & Company raised their price objective on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Zacks Research cut shares of Vita Coco from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

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.