Wall Street Zen upgraded shares of Allbirds (NASDAQ:BIRD – Free Report) from a sell rating to a hold rating in a research report report published on Saturday.
Separately, Weiss Ratings raised Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.
Allbirds Stock Performance
Allbirds (NASDAQ:BIRD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The company reported ($1.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.10. The business had revenue of $2.76 million for the quarter, compared to analyst estimates of $29.50 million. Allbirds had a negative return on equity of 231.86% and a negative net margin of 72.82%.
Allbirds Announces Dividend
The firm also recently disclosed a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, June 25th were issued a $0.31 dividend.
Insider Buying and Selling at Allbirds
In related news, CEO Nadia Catherine Carlsten sold 117,459 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.21, for a total transaction of $494,502.39. Following the completion of the sale, the chief executive officer owned 1,414,920 shares in the company, valued at $5,956,813.20. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 122,405 shares of company stock worth $516,690. 18.76% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Allbirds
Several hedge funds have recently added to or reduced their stakes in BIRD. Tenzing Global Management LLC purchased a new stake in Allbirds in the second quarter valued at $3,762,000. Jane Street Group LLC purchased a new position in shares of Allbirds during the fourth quarter worth about $54,000. Vanguard Group Inc. grew its holdings in shares of Allbirds by 4.9% during the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock worth $1,383,000 after purchasing an additional 11,459 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Allbirds by 46.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock worth $143,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Allbirds during the third quarter worth about $59,000. 44.07% of the stock is currently owned by hedge funds and other institutional investors.
About Allbirds
Allbirds, Inc is a sustainable lifestyle company specializing in environmentally friendly footwear and apparel. The company’s core business centers on designing, manufacturing, and selling shoes that leverage natural and recycled materials to minimize ecological impact. Allbirds’ product portfolio includes lifestyle sneakers, running shoes, and casual slip-ons, all engineered for comfort, durability, and low carbon footprint.
The company’s signature offerings include the Wool Runner series, crafted from New Zealand merino wool, and the Tree line, which uses eucalyptus fiber.
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