400,000 Shares in Zevia PBC (NYSE:ZVIA) Bought by BSW Wealth Partners

BSW Wealth Partners purchased a new position in Zevia PBC (NYSE:ZVIA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 400,000 shares of the company’s stock, valued at approximately $1,540,000. BSW Wealth Partners owned 0.57% of Zevia PBC as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in Zevia PBC by 18.1% in the fourth quarter. Jane Street Group LLC now owns 21,570 shares of the company’s stock worth $88,000 after purchasing an additional 3,305 shares in the last quarter. BlackRock Inc. raised its holdings in Zevia PBC by 1.2% in the first quarter. BlackRock Inc. now owns 326,876 shares of the company’s stock worth $1,258,000 after purchasing an additional 3,914 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Zevia PBC by 9.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 58,899 shares of the company’s stock worth $240,000 after purchasing an additional 5,000 shares in the last quarter. State Street Corp raised its holdings in Zevia PBC by 3.5% in the first quarter. State Street Corp now owns 151,222 shares of the company’s stock worth $691,000 after purchasing an additional 5,089 shares in the last quarter. Finally, Penserra Capital Management LLC raised its holdings in Zevia PBC by 70.0% in the first quarter. Penserra Capital Management LLC now owns 13,296 shares of the company’s stock worth $60,000 after purchasing an additional 5,476 shares in the last quarter. Hedge funds and other institutional investors own 46.65% of the company’s stock.

Analyst Upgrades and Downgrades

ZVIA has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Zevia PBC from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, July 25th. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Zevia PBC in a report on Tuesday, August 15th. The Goldman Sachs Group downgraded Zevia PBC from a “buy” rating to a “neutral” rating and reduced their price target for the company from $5.00 to $3.00 in a report on Tuesday, July 25th. BMO Capital Markets reduced their price target on Zevia PBC from $8.00 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Finally, Morgan Stanley reduced their price target on Zevia PBC from $3.50 to $3.25 and set an “equal weight” rating for the company in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.38.

Insider Buying and Selling

In related news, major shareholder White Pine Llc sold 36,691 shares of Zevia PBC stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $4.71, for a total value of $172,814.61. Following the completion of the sale, the insider now directly owns 2,161,418 shares in the company, valued at approximately $10,180,278.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zevia PBC news, Director Padraic L. Spence sold 33,261 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $2.48, for a total value of $82,487.28. Following the transaction, the director now directly owns 1,936,437 shares of the company’s stock, valued at $4,802,363.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder White Pine Llc sold 36,691 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $4.71, for a total value of $172,814.61. Following the completion of the transaction, the insider now directly owns 2,161,418 shares in the company, valued at $10,180,278.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,367 shares of company stock worth $797,910. 11.73% of the stock is owned by corporate insiders.

Zevia PBC Stock Performance

NYSE ZVIA opened at $2.68 on Tuesday. Zevia PBC has a one year low of $2.25 and a one year high of $5.24. The stock has a 50-day moving average of $3.11 and a 200 day moving average of $3.52. The company has a market capitalization of $191.23 million, a price-to-earnings ratio of -6.87 and a beta of 0.53.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. Zevia PBC had a negative return on equity of 21.92% and a negative net margin of 10.83%. The company had revenue of $42.24 million during the quarter, compared to the consensus estimate of $42.00 million. On average, equities analysts predict that Zevia PBC will post -0.42 earnings per share for the current fiscal year.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, and kidz drinks. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels.