Goldman Sachs Group Inc. Cuts Position in Zevia PBC $ZVIA

Key Points

• Goldman Sachs Group Inc. reduced its stake in Zevia PBC by 44.8%, selling 123,322 shares and owning 0.20% of the company worth $328,000 by the end of the first quarter.
• Several hedge funds, including Acadian Asset Management and Jacobs Levy Equity Management, significantly increased their holdings in Zevia PBC, demonstrating diverse institutional interest.
• Zevia PBC reported earnings that exceeded expectations, with $44.52 million in revenue and a negative earnings per share of ($0.01), while analysts project a consensus target price of $4.61.

Goldman Sachs Group Inc. decreased its holdings in Zevia PBC (NYSE:ZVIA - Free Report) by 44.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,056 shares of the company's stock after selling 123,322 shares during the quarter. Goldman Sachs Group Inc. owned 0.20% of Zevia PBC worth $328,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in Zevia PBC by 950.8% in the 1st quarter. Acadian Asset Management LLC now owns 607,303 shares of the company's stock valued at $1,309,000 after purchasing an additional 549,508 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Zevia PBC by 2,701.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 544,099 shares of the company's stock worth $1,175,000 after purchasing an additional 524,675 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Zevia PBC in the first quarter valued at about $187,000. Emerald Mutual Fund Advisers Trust increased its stake in Zevia PBC by 28.2% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 381,007 shares of the company's stock valued at $823,000 after purchasing an additional 83,778 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Zevia PBC by 77.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 157,300 shares of the company's stock valued at $340,000 after purchasing an additional 68,800 shares during the period. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Zevia PBC Stock Performance

Shares of ZVIA opened at $2.72 on Friday. Zevia PBC has a 52 week low of $0.96 and a 52 week high of $4.99. The company has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $2.70. The firm has a market capitalization of $203.49 million, a P/E ratio of -12.34 and a beta of 0.89.

Zevia PBC (NYSE:ZVIA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $44.52 million for the quarter, compared to analysts' expectations of $41.63 million. Zevia PBC had a negative net margin of 8.97% and a negative return on equity of 27.86%. As a group, equities analysts forecast that Zevia PBC will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ZVIA shares. Telsey Advisory Group boosted their price target on shares of Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Morgan Stanley increased their price target on Zevia PBC from $2.50 to $2.70 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets boosted their price objective on Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Zevia PBC presently has an average rating of "Moderate Buy" and a consensus target price of $4.61.

Zevia PBC Profile

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.

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