Ira Liran Sells 2,780 Shares of The Vita Coco Company, Inc. (NASDAQ:COCO) Stock

The Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.04, for a total value of $69,611.20. Following the completion of the sale, the director now directly owns 992,644 shares of the company’s stock, valued at approximately $24,855,805.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ira Liran also recently made the following trade(s):

• On Tuesday, March 19th, Ira Liran sold 13,998 shares of Vita Coco stock. The shares were sold at an average price of $25.02, for a total value of $350,229.96.

Vita Coco Stock Performance

Shares of Vita Coco stock opened at $23.83 on Wednesday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.96 and a beta of 0.19. The Vita Coco Company, Inc. has a fifty-two week low of $19.06 and a fifty-two week high of $33.29. The stock has a 50 day moving average of $22.75 and a 200 day moving average of $25.48.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The company had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. During the same period last year, the firm earned $0.04 earnings per share. Vita Coco’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts forecast that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Vita Coco

Several institutional investors have recently modified their holdings of COCO. Syon Capital LLC acquired a new position in Vita Coco in the 4th quarter valued at $113,931,000. FMR LLC boosted its position in Vita Coco by 72.3% during the 3rd quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after purchasing an additional 1,000,408 shares during the period. abrdn plc purchased a new stake in Vita Coco during the 4th quarter worth $22,321,000. Ameriprise Financial Inc. boosted its position in Vita Coco by 9,796.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company’s stock valued at $20,516,000 after buying an additional 779,912 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Vita Coco in the 1st quarter valued at about $5,746,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

COCO has been the subject of a number of research analyst reports. TheStreet downgraded Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. William Blair cut Vita Coco from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group reduced their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Piper Sandler increased their target price on Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.71.

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; juice, hydration mix, and milk; sparkling water; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.