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

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) CFO Ann Mitchell sold 2,146 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $7.12, for a total value 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. This trade represents a 2.59% 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.

Allbirds Stock Up 3.7%

Shares of Allbirds stock traded up $0.30 during mid-day trading on Friday, reaching $8.48. 41,973 shares of the stock traded hands, compared to its average volume of 57,987. The stock has a market capitalization of $68.33 million, a PE ratio of -0.53 and a beta of 1.69. The business has a 50-day moving average of $5.75 and a 200 day moving average of $6.50. Allbirds, Inc. has a fifty-two week low of $3.93 and a fifty-two week high of $18.33.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on BIRD. Morgan Stanley decreased their target price on shares of Allbirds from $6.00 to $5.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Maxim Group assumed coverage on shares of Allbirds in a research report on Friday, April 11th. They issued a "buy" rating and a $14.00 target price on the stock.

Institutional Investors Weigh In On Allbirds

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its holdings in Allbirds by 262.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company's stock valued at $296,000 after purchasing an additional 30,791 shares during the last quarter. Jane Street Group LLC acquired a new stake in Allbirds during the fourth quarter worth $104,000. PDT Partners LLC purchased a new stake in Allbirds in the first quarter valued at $76,000. Cubist Systematic Strategies LLC acquired a new position in shares of Allbirds in the 4th quarter valued at $70,000. Finally, Performa Ltd US LLC grew 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 purchasing an additional 3,200 shares during the period. 44.07% of the stock is currently owned by institutional investors and hedge funds.

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.