Jonathan Burth, the Chief Operating Officer of Vita Coco Company, Inc. (NASDAQ:COCO), recently sold 10,000 shares of the company's common stock. The shares were sold at a weighted average price of $35.689, amounting to a total transaction value of $356,890. This sale was conducted under a Rule 10b5-1 trading plan, which allows company insiders to pre-schedule trades of company stock. The stock, currently trading at $36.62, has shown remarkable strength with a 30% gain over the past six months and is trading near its 52-week high of $37.20. According to InvestingPro analysis, the company maintains a "GREAT" financial health score.
Following this transaction, Burth retains ownership of 106,849 shares of Vita Coco's common stock. With the company's current market capitalization of $2.03 billion and strong fundamentals, InvestingPro subscribers can access 12 additional investment tips and a comprehensive Pro Research Report for deeper analysis. Additionally, Burth holds several stock options, including non-qualified stock options with varying exercise prices, all of which are vested or in the process of vesting over the coming years.
In other recent news, The Vita Coco Company reported a mix of results in its Q3 2024 earnings call. Despite a year-over-year net sales decrease of 4% to $133 million, primarily due to a 37% drop in private label sales, the company raised its full-year guidance for net sales and adjusted EBITDA. The flagship Vita Coco Coconut Water showed an 8% growth, which partially offset the decline. Net income for the quarter rose to $19 million, or $0.32 per diluted share, from $15 million, or $0.26 per diluted share, 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, and zero reported debt. Looking ahead, the company projects full-year net sales to be between $505 million to $515 million and adjusted EBITDA ranging from $80 million to $84 million. These recent developments suggest that while Vita Coco is facing challenges, it is also finding growth opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.