De Depot Et Placement Caisse Sells 3,500,000 Shares of Zevia PBC (NYSE:ZVIA) Stock

Zevia PBC (NYSE:ZVIA) major shareholder De Depot Et Placement Caisse sold 3,500,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the completion of the transaction, the insider owned 13,550,428 shares in the company, valued at $27,100,856. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Zevia PBC Trading Down 3.4%

Shares of NYSE:ZVIA opened at $1.83 on Friday. The firm has a 50 day simple moving average of $2.28 and a 200-day simple moving average of $2.55. Zevia PBC has a twelve month low of $1.66 and a twelve month high of $4.51. The company has a market capitalization of $136.88 million, a PE ratio of -8.30 and a beta of 0.87.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Zevia PBC had a negative net margin of 8.83% and a negative return on equity of 30.61%. The firm had revenue of $40.84 million for the quarter, compared to analyst estimates of $39.33 million. As a group, equities research analysts predict that Zevia PBC will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Zevia PBC

Several institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Zevia PBC during the 2nd quarter worth $25,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Zevia PBC during the fourth quarter worth about $27,000. SG Americas Securities LLC purchased a new position in Zevia PBC during the fourth quarter worth about $31,000. R Squared Ltd acquired a new stake in Zevia PBC in the third quarter valued at about $36,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Zevia PBC in the 3rd quarter valued at approximately $44,000. 53.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $6.00 price target on shares of Zevia PBC in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st. Zacks Research cut shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Craig Hallum started coverage on shares of Zevia PBC in a research report on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.68.

Zevia PBC Company Profile

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.