Martin Roper, CEO of Vita Coco Company, Inc. (NASDAQ:COCO), recently sold shares totaling approximately $757,776. The transactions, which occurred over two days, involved the sale of common shares at prices ranging from $35,053 to $35,264 per share.
On November 12, Roper sold 5,000 shares at a weighted average price of $35.264 and another 5,000 shares at $35.261. Additionally, 5,000 shares were sold at $35,262 and another 5,000 at $35.26, all executed through family trusts. The next day, he sold smaller amounts, including 300 shares at $35.053 and 398 shares at $35.08.
Following these transactions, Roper retains a significant stake in the company, with shares held directly and through various family trusts. These sales were conducted pursuant to a Rule 10b5-1 trading plan, which allows company insiders to establish a predetermined plan for selling shares.
In other recent news, The Vita Coco Company reported mixed financial results in its third-quarter 2024 earnings call. Despite a 4% decline in net sales to $133 million, largely due to a 37% drop In private label sales, the company has increased its full-year net sales and adjusted EBITDA guidance. This optimism is driven by 8% growth in its flagship product, Vita Coco Coconut Water, particularly in the US and UK markets. Net income for the quarter rose to $19 million, up from $15 million in the same period last year. The company also reported an increase in cash on hand to $157 million, up from $133 million at the end of 2023, with no debt reported. Despite concerns about high shipping costs impacting fourth-quarter margins, Vita Coco remains confident in its strategic focus and long-term growth potential. As part of its recent developments, the company plans to increase production capacity by 2025 and 2026, aiming to operate at 80%-85% of its capacity.
InvestingPro Insights
As Martin Roper, CEO of Vita Coco Company, Inc. (NASDAQ:COCO), executes his planned stock sales, investors might be curious about the company’s current financial situation and market performance. According to data from InvestingPro, Vita Coco has a market capitalization of $1.93 billion, reflecting its significant presence in the beverage industry.
The company’s P/E ratio stands at 34.59, which when considered alongside a tip from InvestingPro noting that COCO is “trading at a low P/E ratio relative to earnings growth ahead.” short term,” suggests potential value for investors. This is further supported by a PEG ratio of 0.58 for the trailing twelve months as of Q3-2024, indicating that the stock could be undervalued relative to its earnings growth.
Vita Coco’s financial health appears strong, with a tip from InvestingPro noting that the company “has more cash than debt on its balance sheet.” This strong liquidity position is reinforced by other advice stating that “liquid assets exceed short-term obligations”, which could provide the company with flexibility and financial stability.
The stock has shown impressive momentum, with data from InvestingPro revealing a total price return of 32.17% over the past three months and a return of 18.3% over the past month. This aligns with InvestingPro’s advice indicating “strong performance over the past three months.”
For investors looking for a more comprehensive analysis, InvestingPro offers additional information, with 11 more tips available for Vita Coco. These tips could provide valuable context for understanding recent insider selling activity and the company’s overall market position.
This article was generated with the support of AI and reviewed by an editor. For more information consult our T&C.