Allbirds (NASDAQ:BIRD) CEO Joseph Vernachio Sells 4,413 Shares of Stock

Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio sold 4,413 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $2.69, for a total transaction of $11,870.97. Following the completion of the sale, the chief executive officer directly owned 85,569 shares in the company, valued at approximately $230,180.61. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Allbirds Price Performance

BIRD traded down $0.11 during midday trading on Thursday, reaching $2.68. 11,916 shares of the company’s stock were exchanged, compared to its average volume of 59,900. Allbirds, Inc. has a 1-year low of $2.63 and a 1-year high of $12.85. The stock has a market capitalization of $22.00 million, a PE ratio of -0.26 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.37 and a quick ratio of 1.10. The business’s 50-day moving average price is $3.68 and its 200 day moving average price is $5.14.

Hedge Funds Weigh In On Allbirds

A number of hedge funds have recently made changes to their positions in BIRD. Tenzing Global Management LLC purchased a new position in Allbirds in the 2nd quarter valued at about $3,762,000. Jane Street Group LLC acquired a new position in shares of Allbirds in the fourth quarter worth about $54,000. Performa Ltd US LLC purchased a new position in Allbirds in the third quarter valued at about $74,000. Vanguard Group Inc. grew its stake in Allbirds by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock valued at $1,383,000 after purchasing an additional 11,459 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Allbirds by 46.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock valued at $143,000 after purchasing an additional 11,100 shares in the last quarter. Institutional investors and hedge funds own 44.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Maxim Group lowered Allbirds from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allbirds in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered Allbirds from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allbirds currently has an average rating of “Reduce” and a consensus price target of $11.00.

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.