Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell Sells 1,876 Shares

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 1,876 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $6.13, for a total value of $11,499.88. Following the transaction, the chief financial officer now directly owns 80,599 shares in the company, valued at approximately $494,071.87. This represents a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Allbirds Stock Up 1.6 %

Shares of NASDAQ:BIRD opened at $6.45 on Thursday. The business has a 50 day moving average price of $6.82 and a 200 day moving average price of $9.08. Allbirds, Inc. has a twelve month low of $5.76 and a twelve month high of $19.00. The company has a market cap of $51.16 million, a price-to-earnings ratio of -0.40 and a beta of 1.60.

Institutional Trading of Allbirds

Several hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its stake in Allbirds by 262.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock valued at $296,000 after purchasing an additional 30,791 shares during the period. Jane Street Group LLC bought a new stake in Allbirds during the 4th quarter valued at approximately $104,000. Cubist Systematic Strategies LLC bought a new stake in Allbirds during the 4th quarter valued at approximately $70,000. Performa Ltd US LLC lifted its position in shares of Allbirds by 64.0% in the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock worth $57,000 after acquiring an additional 3,200 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Allbirds by 169.4% in the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after acquiring an additional 3,919 shares during the period. Institutional investors own 44.07% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered their price objective on Allbirds from $12.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st.

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.