Zevia PBC (NYSE:ZVIA) executive Lorna R. Simms, who holds the position of SVP, GC & Corporate Secretary, has recently sold a portion of her company shares, according to the latest filings. On March 25, Simms sold 5,120 shares of Zevia Class A Common Stock at a weighted average price of $1.0429, totaling approximately $5,339.
The transaction was conducted in multiple parts, with prices ranging from $1.035 to $1.06 per share. This sale was primarily executed to cover the tax liability associated with the settlement of restricted stock units (RSUs). It is important to note that this was not a discretionary trade by Simms but a necessary action to satisfy tax withholding obligations through a "sell to cover" transaction.
Following this sale, Simms still holds a significant interest in the company, with 232,993 shares, which includes vested and unvested RSUs. The RSUs are scheduled to be settled on various dates, with some being fully vested and others set to vest in increments on anniversaries of specific dates between 2022 and 2024.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's stock value and prospects. While this particular sale was for tax purposes, it still reflects a transaction that stakeholders may find relevant when assessing their investment in Zevia PBC.
InvestingPro Insights
As investors digest the news of Lorna R. Simms' recent stock sale, a closer look at Zevia PBC's financial health and market performance through InvestingPro data may offer additional context. Despite the sale being a non-discretionary action for tax purposes, the company's financial metrics and stock trends can be indicative of its current market standing.
InvestingPro data highlights a market capitalization of $75.44 million for Zevia PBC, with a Price to Earnings (P/E) ratio that stands at -2.44, reflecting market sentiment about its earnings potential. Moreover, the company's Price to Book (P/B) ratio, as of the last twelve months ending Q4 2023, is at 0.78, which could suggest that the stock is potentially undervalued relative to its book value. Additionally, the company's revenue growth was modest, at 1.99% for the same period.
From an analytical perspective, two InvestingPro Tips that may be particularly relevant to investors are:
- Zevia PBC holds more cash than debt on its balance sheet, which can be a sign of financial resilience, especially in uncertain economic times.
- The Relative Strength Index (RSI) suggests the stock is in oversold territory, indicating that the stock might be undervalued or due for a rebound. This could be of interest to potential investors looking for entry points.
For those seeking a more comprehensive analysis, there are additional InvestingPro Tips available that could further inform investment decisions. For example, it's noted that analysts do not anticipate the company will be profitable this year, and the stock has fared poorly over the last month, which aligns with the recent insider sale event.
Investors interested in a deeper dive into Zevia PBC's financials and stock performance can access further insights by visiting InvestingPro. Moreover, by using the coupon code PRONEWS24, users can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable investment tips—currently, there are 12 additional tips listed on InvestingPro for Zevia PBC.
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