Jonathan Burth Sells 20,000 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) COO Jonathan Burth sold 20,000 shares of Vita Coco stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $70.00, for a total value of $1,400,000.00. Following the transaction, the chief operating officer owned 57,910 shares of the company’s stock, valued at $4,053,700. The trade was a 25.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Burth also recently made the following trade(s):

• On Thursday, April 30th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $67.50, for a total value of $1,350,000.00.
• On Wednesday, April 29th, Jonathan Burth sold 40,000 shares of Vita Coco stock. The shares were sold at an average price of $63.75, for a total value of $2,550,000.00.
• On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The shares were sold at an average price of $58.65, for a total value of $3,519,000.00.

Vita Coco Trading Up 1.2%

Shares of NASDAQ COCO traded up $0.86 during trading on Monday, reaching $72.46. 1,258,927 shares of the company traded hands, compared to its average volume of 1,265,010. The firm’s fifty day simple moving average is $53.54 and its 200 day simple moving average is $51.94. The stock has a market cap of $4.14 billion, a P/E ratio of 52.89, a PEG ratio of 1.72 and a beta of 0.72. Vita Coco Company, Inc. has a 12-month low of $31.79 and a 12-month high of $72.98.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The business had revenue of $179.77 million during the quarter, compared to analyst estimates of $148.39 million. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue was up 37.4% on a year-over-year basis. As a group, research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Vita Coco

Several institutional investors have recently bought and sold shares of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Vita Coco by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,493 shares of the company’s stock worth $720,000 after buying an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Vita Coco by 5,376.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock worth $49,000 after buying an additional 1,344 shares during the last quarter. Marshall Wace LLP acquired a new stake in Vita Coco in the 2nd quarter worth about $9,627,000. Cerity Partners LLC acquired a new stake in Vita Coco in the 2nd quarter worth about $645,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Vita Coco in the 2nd quarter worth about $2,990,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COCO has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Wednesday, April 29th. Wall Street Zen upgraded Vita Coco from a “sell” rating to a “buy” rating in a research note on Saturday, May 2nd. Evercore restated an “outperform” rating and issued a $70.00 price target on shares of Vita Coco in a research note on Thursday, March 12th. Jefferies Financial Group lifted their price target on Vita Coco from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Zacks Research upgraded Vita Coco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.