Insider Selling: The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Sells 2,474 Shares of Stock

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CMO Jane Prior sold 2,474 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.02, for a total value of $91,587.48. Following the completion of the transaction, the chief marketing officer now directly owns 130,751 shares of the company's stock, valued at approximately $4,840,402.02. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Jane Prior also recently made the following trade(s):

• On Wednesday, December 4th, Jane Prior sold 3,638 shares of Vita Coco stock. The stock was sold at an average price of $37.04, for a total transaction of $134,751.52.
• On Thursday, November 21st, Jane Prior sold 3,888 shares of Vita Coco stock. The stock was sold at an average price of $37.01, for a total value of $143,894.88.

Vita Coco Price Performance

Shares of NASDAQ:COCO traded up $0.05 during mid-day trading on Friday, reaching $36.72. 306,381 shares of the company were exchanged, compared to its average volume of 602,888. The Vita Coco Company, Inc. has a 1 year low of $19.41 and a 1 year high of $37.88. The firm's 50-day simple moving average is $32.96 and its 200 day simple moving average is $29.15. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The business 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%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, research analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COCO. Bank of America boosted their target price 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 target price on Vita Coco from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Vita Coco has an average rating of "Moderate Buy" and an average price target of $32.14.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Wasatch Advisors LP raised its holdings in shares of Vita Coco by 299.0% in the third quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock valued at $67,972,000 after buying an additional 1,799,168 shares during the last quarter. Geode Capital Management LLC raised its stake in Vita Coco by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,041,662 shares of the company's stock valued at $29,494,000 after acquiring an additional 101,823 shares during the last quarter. Victory Capital Management Inc. lifted its position in Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company's stock worth $25,358,000 after acquiring an additional 461,748 shares during the period. State Street Corp grew its stake in shares of Vita Coco by 4.7% in the 3rd quarter. State Street Corp now owns 876,774 shares of the company's stock valued at $24,821,000 after purchasing an additional 39,431 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Vita Coco by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company's stock valued at $21,623,000 after purchasing an additional 156,033 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.