Allbirds (NASDAQ:BIRD) Upgraded to Hold at Wall Street Zen

Allbirds (NASDAQ:BIRD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.

BIRD has been the subject of several other research reports. Morgan Stanley reduced their price target on shares of 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 price objective on the stock.

Allbirds Stock Up 18.0%

Shares of NASDAQ BIRD traded up $1.54 during trading on Friday, reaching $10.09. The company had a trading volume of 257,256 shares, compared to its average volume of 59,058. Allbirds has a 12-month low of $3.93 and a 12-month high of $18.33. The stock has a market cap of $81.31 million, a PE ratio of -0.63 and a beta of 1.69. The business's 50-day moving average is $5.86 and its 200 day moving average is $6.50.

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

Insider Activity at Allbirds

In other Allbirds news, CEO Joseph Vernachio sold 4,450 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $7.15, for a total value of $31,817.50. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. 45.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted 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 purchasing an additional 3,919 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Allbirds during the 4th quarter worth $104,000. Cubist Systematic Strategies LLC purchased a new position in shares of Allbirds during the 4th quarter worth $70,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Allbirds by 262.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company's stock worth $296,000 after acquiring an additional 30,791 shares during the last quarter. Finally, Performa Ltd US LLC boosted its stake 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. 44.07% of the stock is owned by hedge funds and other institutional investors.

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.