Allbirds, Inc. (NASDAQ:BIRD) CEO Sells $15,220.79 in Stock

Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio sold 2,483 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $6.13, for a total transaction of $15,220.79. Following the sale, the chief executive officer now owns 38,527 shares of the company’s stock, valued at approximately $236,170.51. This represents a 6.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Allbirds Trading Down 1.6 %

Shares of BIRD opened at $6.35 on Friday. The firm has a market cap of $50.37 million, a PE ratio of -0.39 and a beta of 1.56. The firm has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $9.04. Allbirds, Inc. has a 1-year low of $5.76 and a 1-year high of $19.00.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley decreased their target price on shares of Allbirds from $12.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st.

Institutional Investors Weigh In On Allbirds

Several hedge funds and other institutional investors have recently modified their holdings of BIRD. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 3,919 shares in the last quarter. Performa Ltd US LLC increased its stake 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 purchasing an additional 3,200 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Allbirds in the 4th quarter worth $70,000. Jane Street Group LLC purchased a new stake in shares of Allbirds in the 4th quarter worth $104,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Allbirds in the 3rd quarter worth $138,000. 44.07% of the stock is currently owned by hedge funds and other institutional investors.

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.