Allbirds (NASDAQ:BIRD) CEO Joseph Vernachio Sells 3,359 Shares of Stock

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

Allbirds Trading Down 7.4%

BIRD stock opened at $4.10 on Thursday. The stock has a market capitalization of $36.12 million, a price-to-earnings ratio of -0.45 and a beta of 2.56. Allbirds, Inc. has a twelve month low of $2.15 and a twelve month high of $24.31. The company has a quick ratio of 0.68, a current ratio of 1.59 and a debt-to-equity ratio of 1.07. The firm’s fifty day simple moving average is $5.08 and its two-hundred day simple moving average is $4.31.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on BIRD shares. Maxim Group lowered shares of Allbirds from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings upgraded shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Wall Street Zen cut 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.00.

Institutional Trading of Allbirds

Institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in shares of Allbirds in the 3rd quarter valued at about $59,000. Performa Ltd US LLC purchased a new position in shares of Allbirds in the 3rd quarter valued at approximately $74,000. Jane Street Group LLC purchased a new position in shares of Allbirds in the 4th quarter valued at approximately $54,000. PDT Partners LLC raised its position in shares of Allbirds by 30.0% in the 2nd quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock valued at $163,000 after purchasing an additional 3,545 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Allbirds by 46.6% in 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 during the last quarter. 44.07% of the stock is currently owned by institutional investors.

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.