In recent market activity, White Pine LLC, a significant shareholder in Zevia PBC (NYSE:ZVIA), has executed a series of stock sales. On September 26 and 27, 2024, White Pine LLC sold a total of 37,848 shares of Zevia PBC's Class A Common Stock, netting approximately $44,659.
The transactions took place in a range of prices between $1.14 and $1.23 per share, with a weighted average price of $1.18 for each day's sales. Specifically, on September 26, 26,510 shares were sold at prices ranging from $1.15 to $1.23, resulting in a total sale value of about $31,281. The following day, an additional 11,338 shares were sold at prices between $1.14 and $1.21, totaling approximately $13,378 in sales.
These sales were executed in brokered transactions, and the detailed breakdown of the executed sales can be provided upon request. White Pine LLC is an indirect, wholly owned subsidiary of Laird Norton Co LLC, and as such, Laird Norton Co LLC may be deemed to beneficially own the securities owned directly by White Pine LLC.
Investors and market watchers often look to the buying and selling activities of major shareholders for insights into a company's financial health and investor sentiment. The recent sales by White Pine LLC represent a notable change in their holdings of Zevia PBC stock. As of the last transaction, White Pine LLC's ownership in Zevia PBC stood at 1,566,290 shares of Class A Common Stock.
Zevia PBC, known for its line of zero-calorie, stevia-sweetened beverages, is a public benefit corporation with a commitment to sustainability and health-conscious products. The company's stock is traded on the New York Stock Exchange under the ticker symbol ZVIA.
In other recent news, Zevia PBC reported its Q2 2024 financial results, revealing a net loss of $7 million and decreased net sales. Despite these losses, Zevia continues to show growth in retail sales, particularly in the food channel. The company has also removed 2,900 metric tons of sugar from consumer diets, highlighting its commitment to healthier beverage options. In response to competitive pressures, Zevia launched a direct-store delivery initiative and raised prices on soda multipacks. The company remains optimistic about future growth, with plans to save $12 million annually through productivity initiatives. These recent developments reflect Zevia's ongoing efforts to expand its user base, increase distribution, and invest in product innovation and marketing.
InvestingPro Insights
The recent stock sales by White Pine LLC come at a time when Zevia PBC (NYSE:ZVIA) is experiencing mixed financial signals. According to InvestingPro data, Zevia's market capitalization stands at $78.52 million, reflecting its position as a smaller player in the beverage industry.
Despite the recent insider sales, InvestingPro Tips highlight some positive aspects of the company's financial position. Zevia holds more cash than debt on its balance sheet, which could provide financial flexibility in a challenging market. Additionally, the company's liquid assets exceed short-term obligations, suggesting a solid short-term financial footing.
However, investors should note that Zevia is currently not profitable, with a negative P/E ratio of -3.02 for the last twelve months as of Q2 2024. This aligns with an InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year. The company's revenue for the same period was $160.11 million, with a concerning revenue growth decline of -3.05%.
Interestingly, while the stock has shown strong returns over the last month (12.87%) and three months (68.84%), it has experienced a significant year-to-date decline of -43.28%. This volatility is consistent with another InvestingPro Tip, which notes that the stock generally trades with high price volatility.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Zevia PBC, providing deeper insights into the company's financial health and market position.
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