Vita Coco (NASDAQ:COCO) Director Ira Liran Sells 96,158 Shares of Stock

Vita Coco Company, Inc. (NASDAQ:COCO) Director Ira Liran sold 96,158 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $79.14, for a total transaction of $7,609,944.12. Following the sale, the director owned 476,421 shares in the company, valued at $37,703,957.94. The trade was a 16.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, June 11th, Ira Liran sold 95,768 shares of Vita Coco stock. The stock was sold at an average price of $79.14, for a total transaction of $7,579,079.52.

Vita Coco Stock Up 2.9%

NASDAQ:COCO traded up $2.25 on Friday, reaching $80.90. 1,462,254 shares of the company’s stock traded hands, compared to its average volume of 1,219,804. The firm has a market cap of $4.62 billion, a PE ratio of 59.05, a P/E/G ratio of 1.89 and a beta of 0.74. The stock has a 50-day simple moving average of $64.31 and a 200-day simple moving average of $57.78. Vita Coco Company, Inc. has a 12 month low of $31.79 and a 12 month high of $82.33.

Vita Coco (NASDAQ:COCO) last issued its earnings results on Wednesday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $179.77 million for the quarter, compared to the consensus estimate of $148.39 million. During the same quarter last year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 37.4% on a year-over-year basis. On average, equities analysts anticipate that Vita Coco Company, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on COCO. Piper Sandler reissued an “overweight” rating and issued a $70.00 target price on shares of Vita Coco in a report on Wednesday, April 29th. Citigroup reaffirmed a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Vita Coco from a “sell” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings upgraded Vita Coco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Vita Coco presently has an average rating of “Moderate Buy” and an average target price of $70.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in Vita Coco by 2,636.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 520 shares of the company’s stock valued at $28,000 after purchasing an additional 501 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Vita Coco by 22,500.0% in the 3rd quarter. Clearstead Advisors LLC now owns 678 shares of the company’s stock worth $29,000 after purchasing an additional 675 shares during the period. Quarry LP increased its position in shares of Vita Coco by 12,633.3% during the 3rd quarter. Quarry LP now owns 764 shares of the company’s stock valued at $32,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Vita Coco by 5,376.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company’s stock valued at $49,000 after purchasing an additional 1,344 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Vita Coco by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 1,134 shares of the company’s stock valued at $60,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.