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Jennifer Noel Harris, a director at Brilliant Earth Group, Inc. (NASDAQ:BRLT), a company currently valued at $131.16 million with impressive gross profit margins of 60%, sold a total of 15,382 shares of Class A Common Stock between June 16 and June 18, 2025. The sales, executed in multiple trades, were conducted at prices ranging from $1.35 to $1.38, resulting in a total transaction value of $20,854. According to InvestingPro analysis, the stock has declined over 30% in the past six months.
The sales were executed to cover estimated tax obligations related to the vesting and settlement of restricted stock units, and were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 3, 2024. Despite recent stock performance, InvestingPro data shows the company maintains strong liquidity with a healthy current ratio of 2.27 and holds more cash than debt on its balance sheet.
On June 16, Harris sold 2,962 shares at a weighted average price of $1.38. These shares were sold in multiple transactions, with prices ranging from $1.36 to $1.40. Following this transaction, Harris directly owned 96,333 shares.
The following day, June 17, Harris sold 7,103 shares at a weighted average price of $1.35, in a range of $1.32 to $1.38. This sale left Harris with 89,230 shares.
On June 18, Harris sold a further 5,317 shares at a weighted average price of $1.35, with prices ranging from $1.33 to $1.37. Following this transaction, Harris directly owned 83,913 shares.
The sales were reported in a Form 4 filing with the Securities and Exchange Commission (SEC).
In other recent news, Brilliant Earth Group Inc. reported a 3.5% year-over-year decrease in net sales for the first quarter of 2025, totaling $93.9 million. Despite this decline, the company maintained profitability for the 15th consecutive quarter. The average order value dropped by 14.2% year-over-year to $2,062, although total orders increased by 12%, and repeat orders rose by 13%. The company highlighted strong growth in its fine jewelry segment, which now represents a significant portion of bookings. Brilliant Earth remains optimistic about the second half of the year, projecting mid to high single-digit growth, with expected flat or a slight decline in net sales for the second quarter. The company has a robust cash position of $147 million and plans to prepay $20 million of its term loan in the second quarter. Analysts from firms such as KeyBanc Capital Markets and TD Cowen expressed interest in the company’s strategic expansion in fine jewelry and engagement rings.
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