Allbirds, Inc. (NASDAQ:BIRD) CFO Sells $11,499.88 in Stock

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 1,876 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 transaction of $11,499.88. Following the sale, the chief financial officer now owns 80,599 shares in the company, valued at $494,071.87. This represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Allbirds Stock Up 5.3 %

NASDAQ BIRD opened at $6.35 on Wednesday. Allbirds, Inc. has a 52 week low of $5.76 and a 52 week high of $19.00. The firm has a market capitalization of $50.37 million, a price-to-earnings ratio of -0.39 and a beta of 1.60. The company has a fifty day moving average of $6.84 and a two-hundred day moving average of $9.14.

Hedge Funds Weigh In On Allbirds

A number of large investors have recently made changes to their positions in BIRD. Jacobs Levy Equity Management Inc. raised its position in Allbirds by 262.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock worth $296,000 after purchasing an additional 30,791 shares during the period. Jane Street Group LLC purchased a new position in shares of Allbirds during the fourth quarter valued at approximately $104,000. Cubist Systematic Strategies LLC bought a new position in shares of Allbirds during the fourth quarter valued at approximately $70,000. JPMorgan Chase & Co. raised its holdings in shares of 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 period. Finally, Performa Ltd US LLC raised its holdings in shares of 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 period. 44.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.