Insider Selling: Zevia PBC (NYSE:ZVIA) Major Shareholder Sells $4,085,000.00 in Stock

Zevia PBC (NYSE:ZVIA) major shareholder De Depot Et Placement Caisse sold 2,150,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the completion of the sale, the insider owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. The trade was a 15.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Zevia PBC Price Performance

NYSE ZVIA opened at $1.56 on Friday. Zevia PBC has a 1 year low of $1.11 and a 1 year high of $3.66. The firm has a market cap of $119.70 million, a price-to-earnings ratio of -15.55 and a beta of 0.95. The company has a fifty day moving average price of $1.30 and a 200-day moving average price of $1.78.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $46.09 million during the quarter, compared to analyst estimates of $40.97 million. Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. On average, research analysts anticipate that Zevia PBC will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently modified their holdings of the company. Divisadero Street Capital Management LP lifted its holdings in shares of Zevia PBC by 90.6% in the third quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock worth $16,753,000 after buying an additional 2,928,382 shares in the last quarter. Ghisallo Capital Management LLC lifted its holdings in shares of Zevia PBC by 265.1% in the third quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $2,992,000 after buying an additional 798,700 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Zevia PBC in the fourth quarter worth about $4,864,000. Kanen Wealth Management LLC purchased a new stake in shares of Zevia PBC in the first quarter worth about $1,462,000. Finally, Stoic Point Capital Management LLC purchased a new stake in shares of Zevia PBC in the first quarter worth about $867,000. 53.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZVIA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a report on Monday, April 20th. Telsey Advisory Group dropped their price objective on shares of Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.43.

About Zevia PBC

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.