Es Charles Van Sells 8,045 Shares of Vita Coco (NASDAQ:COCO) Stock

Vita Coco Company, Inc. (NASDAQ:COCO) insider Es Charles Van sold 8,045 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $75.05, for a total value of $603,777.25. Following the completion of the transaction, the insider directly owned 59,085 shares in the company, valued at $4,434,329.25. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Es Charles Van also recently made the following trade(s):

• On Friday, May 8th, Es Charles Van sold 8,561 shares of Vita Coco stock. The stock was sold at an average price of $70.00, for a total value of $599,270.00.
• On Friday, May 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $66.87, for a total value of $133,740.00.
• On Wednesday, April 1st, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $48.67, for a total value of $97,340.00.
• On Monday, March 16th, Es Charles Van sold 2,000 shares of Vita Coco stock. The stock was sold at an average price of $57.98, for a total value of $115,960.00.

Vita Coco Stock Performance

NASDAQ:COCO opened at $75.18 on Thursday. The stock’s fifty day moving average price is $61.28 and its two-hundred day moving average price is $56.55. Vita Coco Company, Inc. has a 52-week low of $31.79 and a 52-week high of $79.70. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 54.88, a P/E/G ratio of 1.79 and a beta of 0.74.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16. Vita Coco had a return on equity of 25.43% and a net margin of 12.59%.The firm had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same quarter in the prior year, the business earned $0.31 EPS. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. On average, equities analysts predict that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Alpine Woods Capital Investors LLC acquired a new position in shares of Vita Coco in the 1st quarter valued at $219,000. Bank of America Corp DE lifted its stake in shares of Vita Coco by 47.2% in the 1st quarter. Bank of America Corp DE now owns 401,469 shares of the company’s stock valued at $19,234,000 after purchasing an additional 128,709 shares during the period. California State Teachers Retirement System lifted its stake in shares of Vita Coco by 25.2% in the 1st quarter. California State Teachers Retirement System now owns 57,284 shares of the company’s stock valued at $2,744,000 after purchasing an additional 11,515 shares during the period. Maverick Capital Ltd. lifted its stake in shares of Vita Coco by 31.4% in the 1st quarter. Maverick Capital Ltd. now owns 76,933 shares of the company’s stock valued at $3,686,000 after purchasing an additional 18,372 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of Vita Coco by 397.5% in the 1st quarter. Quantinno Capital Management LP now owns 61,682 shares of the company’s stock valued at $2,955,000 after buying an additional 49,283 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on COCO shares. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Vita Coco in a report on Wednesday, April 29th. Jefferies Financial Group upped their price objective on Vita Coco from $63.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of Vita Coco in a report on Thursday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a report on Tuesday, May 26th. Finally, Evercore reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Vita Coco in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.43.

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.