Allbirds, Inc. (NASDAQ:BIRD) Director Timothy O. Brown Sells 50,000 Shares of Stock

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) Director Timothy O. Brown sold 50,000 shares of Allbirds stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $0.59, for a total value of $29,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Allbirds Price Performance

Shares of NASDAQ:BIRD traded up $0.02 during trading on Tuesday, reaching $0.64. The company had a trading volume of 889,043 shares, compared to its average volume of 1,116,055. Allbirds, Inc. has a fifty-two week low of $0.45 and a fifty-two week high of $1.60. The stock's fifty day moving average price is $0.58 and its 200 day moving average price is $0.69. The firm has a market capitalization of $99.75 million, a price-to-earnings ratio of -0.67 and a beta of 1.76.

Allbirds (NASDAQ:BIRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.06. The business had revenue of $51.58 million for the quarter, compared to analysts' expectations of $50.34 million. Allbirds had a negative net margin of 60.50% and a negative return on equity of 57.15%. During the same period in the prior year, the company posted ($0.18) EPS. On average, equities analysts anticipate that Allbirds, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIRD. Laidlaw Wealth Management LLC purchased a new stake in shares of Allbirds in the fourth quarter valued at $751,000. CastleKnight Management LP acquired a new position in Allbirds in the 4th quarter valued at about $348,000. Coldstream Capital Management Inc. purchased a new position in Allbirds in the 4th quarter valued at about $274,000. Finally, Arnhold LLC boosted its stake in shares of Allbirds by 20.5% during the 4th quarter. Arnhold LLC now owns 272,905 shares of the company's stock worth $334,000 after purchasing an additional 46,350 shares during the last quarter. Institutional investors and hedge funds own 44.07% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush reduced their price target on Allbirds from $0.90 to $0.70 and set a "neutral" rating on the stock in a research report on Thursday, May 9th.

About Allbirds

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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