SAN FRANCISCO – Sharon Dziesietnik, Chief Operations Officer of Brilliant Earth Group, Inc. (NASDAQ:BRLT), recently sold a portion of her shares in the company. According to a filing with the U.S. Securities and Exchange Commission, Dziesietnik sold 5,324 shares of Class A stock at an average price of $1.96 per share, for a total value of approximately $10,435. The transaction came at a time when the stock was trading at $2.04, having lost over 42% in value over the past year.
The sale was part of a predetermined trading plan pursuant to Rule 10b5-1, which Dziesietnik decided on September 12, 2024. This transaction was intended to cover estimated tax liabilities associated with the transfer and settlement of restricted stock units. Following the sale, Dziesietnik continues to hold 392,121 shares of the company.
Brilliant Earth Group, known for its jewelry and silverware offerings, continues to experience regular insider transactions that reflect the ongoing active activities of its executives.
In other recent news, Brilliant Earth Group reported mixed third-quarter results. Net sales fell 13% year over year to $99.9 million. Still, the company posted its 13th consecutive quarter of profit, achieving adjusted EBITDA of $3.6 million, a margin of 3.6%. CEO Beth Gerstein pointed to an increase in gross margin and strong growth in wedding rings and jewelry, despite a downside in engagement rings.
CFO Jeffrey Kuo expressed optimism for the upcoming holiday season and reiterated the company's commitment to sustainable growth. Brilliant Earth also raised its full-year adjusted EBITDA guidance to $14 million to $16 million. This comes alongside the opening of new showrooms in Boston and New York City, bringing the total to 40.
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