Martin Roper Sells 25,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) CEO Martin Roper sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the chief executive officer owned 298,484 shares of the company’s stock, valued at approximately $14,924,200. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Martin Roper also recently made the following trade(s):

• On Tuesday, April 14th, Martin Roper sold 25,000 shares of Vita Coco stock. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00.
• On Monday, April 13th, Martin Roper sold 4,456 shares of Vita Coco stock. The shares were sold at an average price of $50.55, for a total value of $225,250.80.
• On Friday, April 10th, Martin Roper sold 25,000 shares of Vita Coco stock. The stock was sold at an average price of $50.11, for a total value of $1,252,750.00.
• On Wednesday, April 8th, Martin Roper sold 25,000 shares of Vita Coco stock. The stock was sold at an average price of $50.95, for a total value of $1,273,750.00.

Vita Coco Trading Down 0.0%

COCO opened at $48.32 on Friday. The stock has a fifty day simple moving average of $53.25 and a two-hundred day simple moving average of $50.60. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 40.95, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. Vita Coco Company, Inc. has a 12-month low of $29.74 and a 12-month high of $61.39.

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

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently modified their holdings of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Vita Coco by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after acquiring an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Vita Coco by 5,376.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after buying an additional 1,344 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Vita Coco during the second quarter valued at $9,627,000. Cerity Partners LLC purchased a new stake in shares of Vita Coco during the second quarter valued at $645,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Vita Coco during the second quarter valued at $2,990,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price objective on Vita Coco from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Vita Coco in a research note on Friday, March 27th. Wall Street Zen cut Vita Coco from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Zacks Research cut Vita Coco from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Evercore reissued an “outperform” rating and issued a $70.00 target price on shares of Vita Coco in a research note on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and an average price target of $59.43.

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.