Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio Sells 4,450 Shares

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) CEO Joseph Vernachio sold 4,450 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $7.15, for a total transaction of $31,817.50. Following the sale, the chief executive officer now directly owns 98,032 shares of the company's stock, valued at approximately $700,928.80. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allbirds Stock Up 4.5%

BIRD traded up $0.37 during trading on Friday, reaching $8.55. The company had a trading volume of 84,153 shares, compared to its average volume of 58,262. The stock has a market cap of $68.90 million, a P/E ratio of -0.53 and a beta of 1.69. The business has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $6.49. Allbirds, Inc. has a 52 week low of $3.93 and a 52 week high of $18.33.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. 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 report on Monday, May 12th. Maxim Group assumed coverage on Allbirds in a research report on Friday, April 11th. They set a "buy" rating and a $14.00 target price for the company. Finally, Wall Street Zen upgraded Allbirds from a "sell" rating to a "hold" rating in a research report on Friday.

Institutional Trading of Allbirds

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Allbirds by 169.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company's stock worth $43,000 after buying an additional 3,919 shares during the last quarter. Performa Ltd US LLC lifted its position in Allbirds by 64.0% in the fourth quarter. Performa Ltd US LLC now owns 8,200 shares of the company's stock worth $57,000 after buying an additional 3,200 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Allbirds in the fourth quarter worth $70,000. PDT Partners LLC bought a new stake in Allbirds in the first quarter worth $76,000. Finally, Jane Street Group LLC bought a new stake in Allbirds in the fourth quarter worth $104,000. 44.07% of the stock is currently owned by institutional investors.

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.