Allbirds (NASDAQ:BIRD – Get Rating) had its price target cut by Telsey Advisory Group from $9.00 to $7.00 in a research note published on Tuesday morning, MarketBeat reports. They currently have an outperform rating on the stock. Telsey Advisory Group also issued estimates for Allbirds’ Q3 2022 earnings at ($0.10) EPS, Q4 2022 earnings at ($0.07) EPS, FY2022 earnings at ($0.48) EPS and FY2023 earnings at ($0.34) EPS.
Other equities analysts have also issued reports about the stock. Robert W. Baird reissued an outperform rating and issued a $10.00 price objective on shares of Allbirds in a research report on Wednesday, June 1st. Piper Sandler began coverage on shares of Allbirds in a research note on Friday, July 22nd. They issued an overweight rating and a $10.00 price target on the stock. Berenberg Bank restated a hold rating and issued a $5.00 price target on shares of Allbirds in a research note on Friday, May 20th. Cowen reduced their price target on shares of Allbirds from $16.00 to $7.00 in a research note on Wednesday, May 11th. Finally, Stifel Nicolaus downgraded shares of Allbirds from a buy rating to a hold rating and reduced their price target for the company from $7.00 to $5.00 in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Allbirds has a consensus rating of Moderate Buy and a consensus target price of $11.86.
Allbirds Stock Up 6.2 %
Shares of BIRD opened at $5.27 on Tuesday. The stock’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $6.41. Allbirds has a 12-month low of $3.64 and a 12-month high of $32.44.
Insider Buying and Selling at Allbirds
In related news, CEO Timothy O. Brown acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was purchased at an average price of $4.86 per share, with a total value of $243,000.00. Following the completion of the purchase, the chief executive officer now owns 50,000 shares in the company, valued at approximately $243,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 31.93% of the company’s stock.
Institutional Trading of Allbirds
A number of institutional investors have recently made changes to their positions in the stock. Ritter Daniher Financial Advisory LLC purchased a new stake in Allbirds in the fourth quarter worth $30,000. Captrust Financial Advisors lifted its stake in Allbirds by 90.8% in the first quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock worth $39,000 after acquiring an additional 3,100 shares during the period. Game Plan Financial Advisors LLC lifted its stake in Allbirds by 41.7% in the second quarter. Game Plan Financial Advisors LLC now owns 17,000 shares of the company’s stock worth $65,000 after acquiring an additional 5,000 shares during the period. FourThought Financial LLC purchased a new stake in Allbirds in the first quarter worth $37,000. Finally, Northern Trust Corp lifted its stake in Allbirds by 26.5% in the first quarter. Northern Trust Corp now owns 45,210 shares of the company’s stock worth $272,000 after acquiring an additional 9,478 shares during the period. Hedge funds and other institutional investors own 26.75% of the company’s stock.
Allbirds Company Profile
Allbirds, Inc manufactures and sells footwear and apparel products for men and women. It offers shoes, such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals. The company's apparel products include activewear, tops, bottoms, dresses, sweaters, underwear, and socks.
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