Rosemary L. Ripley, a director at Zevia PBC (NYSE:ZVIA), has executed a significant stock sale, according to a recent SEC filing. On December 5, 2024, Ripley sold 2,567,006 shares of the company's Class A common stock in a private block trade. The shares were sold at a price of $1.8996 per share, resulting in a total transaction value of approximately $4.9 million. The sale comes as Zevia's stock has surged over 255% in the past six months, with the current share price at $3.13. According to InvestingPro, the stock's RSI indicates overbought conditions.
The transaction was conducted through NGEN III, LP, an entity in which Ripley may have an indirect beneficial interest. Following the sale, Ripley retains an indirect ownership of 2,719,258 shares through NGEN Zevia SPV, LLC and NGEN-Mantra Holdings LLC. Additionally, she holds 152,961 shares directly, which include restricted stock units (RSUs) set to vest in 2025. The $187.83 million market cap company maintains strong financial health, with more cash than debt on its balance sheet. InvestingPro subscribers can access 10+ additional ProTips and a comprehensive research report analyzing Zevia's complete financial picture.
In other recent news, Zevia PBC has reported its financial results for the third quarter of 2024. The earnings call, led by President and CEO Amy Taylor and CFO Girish Satya, presented unaudited financial data and provided forward-looking statements. Management's outlook included predictions based on their current expectations and beliefs about future events. However, potential risks and uncertainties that could impact future outcomes were also highlighted. The company expressed optimism about future events that could positively influence results. While there was no specific mention of underperformance, a question-and-answer session was held post-presentation, allowing for further inquiries about the company's performance and expectations. For more detailed information, Zevia PBC's press release and investor presentation are available on their investor relations website.
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