Key Points
- Vita Coco COO Jonathan Burth sold 30,000 shares on May 12 at an average price of $75.00, totaling $2.25 million. The sale was made under a pre-arranged Rule 10b5-1 plan.
- Burth has been actively reducing his stake, with several recent sales in May, April, and March. After the latest transaction, he still directly owned 57,910 shares valued at about $4.34 million.
- Vita Coco’s stock has been strong, recently trading near its 12-month high of $76.35 and up 0.2% in the session cited. The company also reported better-than-expected quarterly earnings and revenue growth of 37.4% year over year.
Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) COO Jonathan Burth sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $75.00, for a total transaction of $2,250,000.00. Following the transaction, the chief operating officer directly owned 57,910 shares in the company, valued at $4,343,250. The trade was a 34.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Friday, May 8th, Jonathan Burth sold 20,000 shares of Vita Coco stock. The shares were sold at an average price of $70.00, for a total transaction of $1,400,000.00.
- 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 transaction 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 transaction of $2,550,000.00.
- On Monday, March 16th, Jonathan Burth sold 60,000 shares of Vita Coco stock. The stock was sold at an average price of $58.65, for a total transaction of $3,519,000.00.
Vita Coco Stock Up 0.2%
COCO stock opened at $74.77 on Thursday. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 54.58, a P/E/G ratio of 1.79 and a beta of 0.72. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $76.35. The firm has a 50 day moving average of $54.91 and a two-hundred day moving average of $52.86.
Vita Coco (NASDAQ:COCO - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The company had revenue of $179.77 million during the quarter, compared to the consensus estimate of $148.39 million. Vita Coco had a net margin of 12.59% and a return on equity of 25.43%. The company's revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, research analysts expect that Vita Coco Company, Inc. will post 1.76 EPS for the current fiscal year.
Institutional Trading of Vita Coco
A number of institutional investors and hedge funds have recently modified their holdings of COCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 buying an additional 1,174 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Vita Coco by 5,376.0% in the second 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 shares of Vita Coco in the second quarter worth $9,627,000. Cerity Partners LLC acquired a new stake in shares of Vita Coco in the second quarter worth $645,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Vita Coco in the second quarter worth $2,990,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Jefferies Financial Group boosted their target price on shares of Vita Coco from $63.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Vita Coco from a "sell" rating to a "buy" rating in a research report on Saturday, May 2nd. Morgan Stanley set a $65.00 target price on shares of Vita Coco in a research report on Thursday, April 30th. Piper Sandler restated an "overweight" rating and issued a $70.00 price objective on shares of Vita Coco in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Vita Coco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.
Read Our Latest Report on COCO
Vita Coco Company Profile
(
Get Free Report)
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.
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