The Vita Coco Company, Inc. (NASDAQ:COCO) CFO Sells $74,560.00 in Stock

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) CFO Corey Baker sold 2,000 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company's stock, valued at $1,653,218.88. This represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vita Coco Trading Up 0.1 %

Shares of NASDAQ COCO traded up $0.05 during mid-day trading on Friday, reaching $36.72. The company had a trading volume of 306,381 shares, compared to its average volume of 602,888. The Vita Coco Company, Inc. has a 52 week low of $19.41 and a 52 week high of $37.88. The business's 50-day moving average is $32.96 and its 200-day moving average is $29.15. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.31.

Vita Coco (NASDAQ:COCO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. Vita Coco's quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on COCO. Craig Hallum lifted their price target on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Bank of America raised their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. 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, the company presently has an average rating of "Moderate Buy" and an average price target of $32.14.

Institutional Investors Weigh In On Vita Coco

Several institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP raised its stake in shares of Vita Coco by 299.0% during the 3rd quarter. Wasatch Advisors LP now owns 2,400,997 shares of the company's stock worth $67,972,000 after buying an additional 1,799,168 shares during the period. Woodson Capital Management LP purchased a new stake in shares of Vita Coco during the third quarter worth about $19,224,000. Victory Capital Management Inc. raised its position in shares of 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 purchasing an additional 461,748 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Vita Coco during the 2nd quarter worth about $9,859,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Vita Coco by 143.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 341,506 shares of the company's stock valued at $9,668,000 after purchasing an additional 200,940 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

About Vita Coco

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.

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