Celsius Holdings directors are amassing millions of dollars in shares, recent SEC filings show

The board of directors for energy drink maker Celsius Holdings (CELH) is betting on the company’s success, SEC filings show.

Carline Levy acquired a $1.87 million stake in her employer through stock options on Tuesday, the day before a “fireside chat” at the UBS Global Consumer and Retail Conference. Fellow board member Joyce Russell picked up $113,000 in stock as her shares vested, also on Tuesday.

The moves come after Celsius Holdings’ Chief Supply Chain Officer sold $262,000 of stock on March 6, a sale that briefly spooked investors.

A second “fireside chat” is scheduled for the 37th Annual Roth Conference on March 17.

Institutional investors increase exposure

Institutional investors have also been adding to their Celsius Holdings positions.

On Tuesday, brokerage Edward Jones disclosed in an SEC filing that it increased its investment in the company by 22% in the final quarter of last year, bringing its holdings to $457,000.

Other institutional investors had already been building their stakes.

State Street Corporation raised its exposure to Celsius Holdings by 3.2% in Q3 2024 and now owns $167 million in stock, according to a February 14 SEC filing.

Geode Capital Management increased its stake by 3.6%, bringing its total holdings to $94 million, a February 12 disclosure shows.

Perhaps the most significant vote of confidence came from SG Americas Securities, which expanded its position from 18,000 shares to 1.9 million in the last quarter of 2024, according to a January 17 filing. SG Americas Securities now holds $50 million worth of Celsius Holdings stock.

Stock performance and challenges

Celsius Holdings is up 7% this week. However, the company’s market value remains a fraction of its May 2024 peak when it traded at $95.15.

Declining sales through distribution partner PepsiCo and a buildup of unsold inventory triggered an investor exodus, and the stock has yet to recover meaningfully.

Both Celsius Holdings and PepsiCo are facing a class-action lawsuit in Florida over alleged nondisclosure of excess inventory.

On February 20, Celsius Holdings disclosed it had an excess inventory of 19 million energy drinks. Despite these challenges, the company remains profitable, reporting a $145 million net income for 2024.