Insider Selling: Allbirds, Inc. (NASDAQ:BIRD) CFO Sells 2,146 Shares of Stock

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 2,146 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $7.12, for a total transaction of $15,279.52. Following the sale, the chief financial officer now directly owns 80,686 shares in the company, valued at approximately $574,484.32. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allbirds Stock Up 4.5%

Shares of Allbirds stock opened at $8.55 on Friday. Allbirds, Inc. has a 52-week low of $3.93 and a 52-week high of $18.33. The company has a market capitalization of $68.90 million, a P/E ratio of -0.53 and a beta of 1.69. The company has a 50 day moving average of $5.80 and a 200 day moving average of $6.50.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings data on Thursday, May 8th. The company reported ($2.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.85) by $1.12. The business had revenue of $32.11 million during the quarter, compared to analysts’ expectations of $29.98 million. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. As a group, research analysts anticipate that Allbirds, Inc. will post -11.87 earnings per share for the current fiscal year.

Institutional Trading of Allbirds

Hedge funds and other institutional investors have recently bought and sold shares of the business. Performa Ltd US LLC increased its holdings in shares of Allbirds by 64.0% in the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock valued at $57,000 after acquiring an additional 3,200 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Allbirds by 169.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after purchasing an additional 3,919 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Allbirds in the fourth quarter valued at approximately $70,000. PDT Partners LLC purchased a new position in Allbirds in the first quarter valued at approximately $76,000. Finally, Jane Street Group LLC acquired a new stake in Allbirds during the fourth quarter worth approximately $104,000. 44.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen raised Allbirds from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley lowered their target price on Allbirds from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Finally, Maxim Group assumed coverage on Allbirds in a report on Friday, April 11th. They set a “buy” rating and a $14.00 price target on the stock.

About Allbirds

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.