Jane Prior Sells 45,091 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) CMO Jane Prior sold 45,091 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $29.65, for a total transaction of $1,336,948.15. Following the completion of the transaction, the chief marketing officer now owns 123,098 shares of the company’s stock, valued at $3,649,855.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vita Coco Price Performance

Shares of Vita Coco stock traded down $0.30 during trading on Monday, reaching $26.49. 566,327 shares of the company traded hands, compared to its average volume of 502,201. The firm has a market capitalization of $1.50 billion, a PE ratio of 51.94 and a beta of 0.07. The company has a 50 day moving average price of $26.91 and a 200-day moving average price of $24.38. The Vita Coco Company, Inc. has a 1-year low of $7.39 and a 1-year high of $33.29.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Vita Coco had a return on equity of 20.71% and a net margin of 6.26%. The business had revenue of $139.65 million for the quarter, compared to the consensus estimate of $131.40 million. Equities research analysts expect that The Vita Coco Company, Inc. will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of COCO. Tower Research Capital LLC TRC boosted its stake in shares of Vita Coco by 66.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock worth $38,000 after buying an additional 560 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Vita Coco by 6.0% during the first quarter. Squarepoint Ops LLC now owns 11,004 shares of the company’s stock worth $216,000 after acquiring an additional 626 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Vita Coco by 5.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,403 shares of the company’s stock worth $158,000 after acquiring an additional 638 shares during the period. Royal Bank of Canada boosted its position in Vita Coco by 37.2% in the second quarter. Royal Bank of Canada now owns 2,609 shares of the company’s stock worth $70,000 after purchasing an additional 707 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Vita Coco by 6.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,488 shares of the company’s stock valued at $245,000 after purchasing an additional 798 shares during the period. 42.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Vita Coco from $27.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Stephens began coverage on Vita Coco in a research note on Thursday, June 22nd. They issued an “equal weight” rating and a $30.00 price target for the company. Bank of America lowered Vita Coco from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $25.00 to $32.00 in a research note on Wednesday, August 2nd. Finally, Piper Sandler increased their target price on shares of Vita Coco from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.