Allbirds (NASDAQ:BIRD) Issues Quarterly Earnings Results

Allbirds (NASDAQ:BIRD) released its earnings results on Wednesday. The company reported ($2.68) earnings per share for the quarter, topping the consensus estimate of ($3.13) by $0.45, Zacks reports. The company had revenue of $43.00 million during the quarter, compared to the consensus estimate of $42.11 million. Allbirds had a negative net margin of 61.24% and a negative return on equity of 61.22%. During the same quarter in the previous year, the firm earned ($4.20) EPS. Allbirds updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Allbirds Stock Down 8.8 %

NASDAQ:BIRD traded down $0.77 during trading hours on Friday, reaching $7.95. 259,696 shares of the stock were exchanged, compared to its average volume of 56,774. The stock has a market capitalization of $62.70 million, a P/E ratio of -0.49 and a beta of 1.77. The firm has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $11.94. Allbirds has a 52 week low of $7.87 and a 52 week high of $29.00.

Insider Activity

In other news, CEO Joseph Vernachio sold 2,367 shares of Allbirds stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total value of $28,404.00. Following the completion of the transaction, the chief executive officer now directly owns 43,536 shares of the company’s stock, valued at approximately $522,432. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Timothy O. Brown sold 2,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Vernachio sold 2,367 shares of Allbirds stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total transaction of $28,404.00. Following the completion of the sale, the chief executive officer now owns 43,536 shares in the company, valued at approximately $522,432. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,742 shares of company stock worth $68,404. 45.50% of the stock is currently owned by insiders.

Allbirds Company Profile

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.