Corey Baker, chief financial officer at Vita Coco Company, Inc. (NASDAQ: COCO), sold a total of 4,000 shares of the company's common stock in two separate transactions carried out on March 17 and March 18, 2026. According to the company Form 4 filing, the aggregate proceeds from the sales amounted to $235,920, with execution prices ranging between $58.04 and $59.92 per share.
On March 17, Baker sold 2,000 shares at $59.92 per share. After that trade, the filing shows Baker held 29,951 shares of common stock directly. The following day, March 18, he sold another 2,000 shares at $58.04 per share and, subsequent to that transaction, reported direct ownership of 27,951 shares.
The two sales were completed under a Rule 10b5-1 trading plan, the filing states. The Form 4 was signed on March 19, 2026, by Alison Klein, who acted as attorney-in-fact for Baker.
The filing also discloses that Baker holds several non-qualified stock options to acquire additional shares of Vita Coco. The option exercise prices listed in the filing are $16.91, $24.35, $26.18, $27.59 and $33.36. Footnotes in the filing indicate that those options vest over time.
Recent analyst moves and corporate appointment
The company has seen additional activity on the institutional-coverage and corporate-governance fronts. Evercore ISI raised its price target for Vita Coco to $70 while maintaining an Outperform rating. Evercore ISI attributed its target change in part to scanner data showing a 51.1% sales surge in early March, a gain the firm linked to promotional timing and favorable price and mix adjustments.
Morgan Stanley also revised its outlook, lifting its price target to $57. The firm updated its fiscal 2026 and 2027 adjusted EBITDA estimates upward by 11% and 12%, respectively, while retaining an Equalweight rating. Morgan Stanley's new price target is based on a higher enterprise-value-to-EBITDA ratio applied to 2027 estimates.
On the governance side, Vita Coco appointed Shelley Broader to its Board of Directors. Broader brings more than 25 years of retail leadership experience, including roles at Chico's FAS, Inc., Walmart EMEA, Walmart Canada and Sweetbay Supermarkets.
Context and limitations
The Form 4 provides precise transactional details and disclosures about outstanding option grants and the signature date for the filing. It does not prescribe motives for the sales beyond noting that the transactions were carried out pursuant to a Rule 10b5-1 plan. Other developments reported by sell-side analysts and the company are included in the filing and related press communications cited in the filings.