Beyond Meat (NASDAQ:BYND) CFO Lubi Kutua Sells 419,042 Shares

Beyond Meat, Inc. (NASDAQ:BYND) CFO Lubi Kutua sold 419,042 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $0.60, for a total value of $251,425.20. Following the completion of the transaction, the chief financial officer directly owned 5,749,967 shares of the company’s stock, valued at approximately $3,449,980.20. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Beyond Meat Stock Performance

NASDAQ BYND opened at $0.75 on Thursday. The business has a fifty day moving average price of $0.71 and a 200 day moving average price of $1.07. Beyond Meat, Inc. has a one year low of $0.50 and a one year high of $7.69. The company has a market cap of $348.18 million, a P/E ratio of -0.26 and a beta of 2.67.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.17). Beyond Meat had a net margin of 43.98% and a negative return on equity of 37.44%. The firm had revenue of $61.59 million during the quarter, compared to analyst estimates of $63.00 million. As a group, sell-side analysts predict that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Meat in a research note on Wednesday, January 21st. BMO Capital Markets reduced their price objective on Beyond Meat from $4.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday, April 6th. Barclays reduced their price objective on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. Finally, Zacks Research lowered Beyond Meat from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus price target of $0.83.

Institutional Investors Weigh In On Beyond Meat

Hedge funds have recently modified their holdings of the company. Banco Santander S.A. purchased a new stake in shares of Beyond Meat in the third quarter valued at about $25,000. Xponance LLC purchased a new position in shares of Beyond Meat during the 4th quarter worth $25,000. Savant Capital LLC purchased a new position in shares of Beyond Meat during the 3rd quarter worth $28,000. Russell Investments Group Ltd. grew its holdings in shares of Beyond Meat by 400.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,786 shares of the company’s stock worth $28,000 after purchasing an additional 11,830 shares during the period. Finally, Leonteq Securities AG purchased a new position in shares of Beyond Meat during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Company Profile

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.