Insider Selling: Allbirds (NASDAQ:BIRD) CEO Sells $15,014.73 in Stock

Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio sold 3,359 shares of Allbirds stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.47, for a total transaction of $15,014.73. Following the transaction, the chief executive officer directly owned 82,210 shares in the company, valued at $367,478.70. The trade was a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allbirds Stock Down 7.3%

Allbirds stock opened at $3.83 on Friday. The company’s 50 day simple moving average is $5.10 and its 200 day simple moving average is $4.30. Allbirds, Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $24.31. The firm has a market capitalization of $33.73 million, a price-to-earnings ratio of -0.42 and a beta of 2.56. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.59 and a quick ratio of 0.68.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Monday, April 20th. The company reported ($2.37) EPS for the quarter. The company had revenue of $22.32 million for the quarter. Allbirds had a negative return on equity of 173.54% and a negative net margin of 53.36%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BIRD. Weiss Ratings upgraded shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wall Street Zen downgraded shares of Allbirds from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $8.00.

Institutional Trading of Allbirds

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Allbirds in the fourth quarter valued at approximately $54,000. Susquehanna International Group LLP acquired a new stake in shares of Allbirds in the third quarter valued at approximately $59,000. Performa Ltd US LLC acquired a new stake in shares of Allbirds in the third quarter valued at approximately $74,000. Bridgeway Capital Management LLC increased its holdings in Allbirds by 46.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock worth $143,000 after buying an additional 11,100 shares during the last quarter. Finally, PDT Partners LLC increased its holdings in Allbirds by 30.0% during the second quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock worth $163,000 after buying an additional 3,545 shares during the last quarter. 44.07% of the stock is currently owned by institutional investors and hedge funds.

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.