Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) CEO Joseph Vernachio sold 2,483 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $6.13, for a total value of $15,220.79. Following the completion of the transaction, the chief executive officer now owns 38,527 shares in the company, valued at $236,170.51. This represents a 6.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Allbirds Stock Up 4.4 %
Shares of BIRD traded up $0.28 during trading hours on Friday, reaching $6.63. The company's stock had a trading volume of 17,685 shares, compared to its average volume of 49,825. The firm has a market cap of $52.59 million, a price-to-earnings ratio of -0.41 and a beta of 1.56. Allbirds, Inc. has a 1-year low of $5.76 and a 1-year high of $19.00. The company has a 50 day moving average of $6.77 and a two-hundred day moving average of $8.99.
Hedge Funds Weigh In On Allbirds
Hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Allbirds in the third quarter worth approximately $138,000. Jane Street Group LLC acquired a new position in Allbirds in the fourth quarter worth approximately $104,000. Cubist Systematic Strategies LLC acquired a new position in Allbirds in the fourth quarter worth approximately $70,000. JPMorgan Chase & Co. increased its holdings 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 buying an additional 3,919 shares during the last quarter. Finally, Performa Ltd US LLC increased its holdings in Allbirds by 64.0% in the fourth quarter. Performa Ltd US LLC now owns 8,200 shares of the company's stock worth $57,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 44.07% of the company's stock.
Wall Street Analyst Weigh In
Separately, Morgan Stanley dropped their target price on Allbirds from $12.00 to $8.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st.
Check Out Our Latest Analysis on BIRD
About Allbirds
(
Get Free Report)
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.
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