Amy Taylor, President and CEO of Zevia PBC (NYSE:ZVIA), reported selling 11,479 shares of the company’s Class A Common Stock. The sale, which took place on January 21, was executed at a weighted average price of $4.7417 per share, resulting in a total transaction value of $54,429. The transaction comes as ZVIA shows strong momentum, with the stock up over 150% in the past year and maintaining a healthy balance sheet with more cash than debt. According to InvestingPro analysis, the stock is currently trading above its Fair Value. This transaction was carried out to satisfy tax liabilities associated with the settlement of restricted stock units and does not represent a discretionary trade by Taylor.
Following this transaction, Taylor retains direct ownership of 1,002,773 shares. Additionally, 5,500 shares are held indirectly by her spouse. The report also notes that Taylor holds a significant number of restricted stock units, which are set to vest in annual increments over the coming years.
In other recent news, Zevia PBC announced mixed Q4 results, with consolidated revenues reaching $39.5 million, aligning with the top end of its forecasted range. However, the company expects a larger adjusted EBITDA loss of between $3.9 million and $4.2 million, primarily attributed to increased investments during the holiday season. Despite the adjusted EBITDA loss, Loop Capital Markets maintained a Buy rating on Zevia PBC, citing the company’s revenue achievements and growth potential as the basis for this decision. The firm also increased the price target for Zevia PBC from $2.00 to $6.00. These recent developments follow Zevia’s Q3 2024 earnings call, where the company did not mention any specific misses or underperformance. Zevia has also provided guidance for the year 2024, anticipating net sales of around $155 million but also a wider adjusted EBITDA loss estimated between $15.2 million and $15.5 million.
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