Vita Coco (NASDAQ:COCO) Trading Down 5.9% on Insider Selling

Vita Coco Company, Inc. (NASDAQ:COCO)’s share price dropped 5.9% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $38.11 and last traded at $37.94. Approximately 250,250 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 778,778 shares. The stock had previously closed at $40.30.

Specifically, CEO Martin Roper sold 15,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $40.14, for a total transaction of $602,100.00. Following the completion of the transaction, the chief executive officer owned 262,915 shares in the company, valued at approximately $10,553,408.10. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martin Roper sold 5,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $40.17, for a total transaction of $200,850.00. Following the transaction, the chief executive officer owned 329,297 shares of the company’s stock, valued at approximately $13,227,860.49. The trade was a 1.50% decrease in their position. The disclosure for this sale can be found here. In related news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $41.53, for a total transaction of $830,600.00. Following the completion of the transaction, the chairman owned 1,529,049 shares in the company, valued at approximately $63,501,404.97. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

COCO has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of Vita Coco from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler raised shares of Vita Coco from a “neutral” rating to an “overweight” rating and set a $39.00 price objective on the stock in a report on Wednesday, August 20th. Wall Street Zen downgraded shares of Vita Coco from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Needham & Company LLC assumed coverage on shares of Vita Coco in a report on Wednesday. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their price objective on shares of Vita Coco from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Vita Coco Price Performance

The firm has a market capitalization of $2.22 billion, a PE ratio of 36.46, a P/E/G ratio of 2.13 and a beta of 0.36. The company’s fifty day simple moving average is $36.63 and its 200 day simple moving average is $34.93.

Vita Coco (NASDAQ:COCO) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Vita Coco had a net margin of 11.50% and a return on equity of 24.99%. The firm had revenue of $168.76 million for the quarter, compared to the consensus estimate of $162.20 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Vita Coco has set its FY 2025 guidance at EPS. On average, analysts anticipate that Vita Coco Company, Inc. will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in shares of Vita Coco by 47.9% in the second quarter. Squarepoint Ops LLC now owns 18,884 shares of the company’s stock worth $682,000 after buying an additional 6,120 shares in the last quarter. Ranger Investment Management L.P. lifted its holdings in shares of Vita Coco by 7.3% in the second quarter. Ranger Investment Management L.P. now owns 225,175 shares of the company’s stock worth $8,129,000 after buying an additional 15,240 shares in the last quarter. Cim LLC lifted its holdings in shares of Vita Coco by 3.8% in the second quarter. Cim LLC now owns 13,904 shares of the company’s stock worth $502,000 after buying an additional 514 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Vita Coco by 113.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $168,000 after buying an additional 2,465 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Vita Coco in the second quarter worth about $206,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.