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

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) CEO Joseph Vernachio sold 4,450 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $7.15, for a total value of $31,817.50. Following the completion of the sale, the chief executive officer now owns 98,032 shares in the company, 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 link.

Allbirds Stock Up 3.7%

Shares of NASDAQ BIRD traded up $0.30 during trading hours on Friday, hitting $8.48. The company had a trading volume of 41,973 shares, compared to its average volume of 57,987. Allbirds, Inc. has a 1-year low of $3.93 and a 1-year high of $18.33. The firm's 50 day moving average is $5.75 and its 200-day moving average is $6.50. The stock has a market capitalization of $68.33 million, a P/E ratio of -0.53 and a beta of 1.69.

Allbirds (NASDAQ:BIRD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($2.73) EPS for the quarter, beating 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 net margin of 60.43% and a negative return on equity of 65.30%. On average, sell-side analysts predict that Allbirds, Inc. will post -11.87 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on BIRD shares. Maxim Group started coverage on shares of Allbirds in a report on Friday, April 11th. They issued a "buy" rating and a $14.00 price objective on the stock. Morgan Stanley decreased their price objective on Allbirds from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Monday, May 12th.

Institutional Trading of Allbirds

Several institutional investors and hedge funds have recently bought and sold shares of BIRD. Performa Ltd US LLC increased its holdings in shares of Allbirds by 64.0% during the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company's stock worth $57,000 after acquiring an additional 3,200 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 period. Cubist Systematic Strategies LLC acquired a new position in shares of Allbirds in the fourth quarter valued at $70,000. PDT Partners LLC bought a new position in shares of Allbirds in the first quarter valued at about $76,000. Finally, Jane Street Group LLC acquired a new stake in shares of Allbirds during the 4th quarter worth about $104,000. Institutional investors own 44.07% of the company's stock.

Allbirds Company Profile

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.