Ann Mitchell Sells 19,508 Shares of Allbirds (NASDAQ:BIRD) Stock

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 19,508 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $2.30, for a total transaction of $44,868.40. Following the sale, the chief financial officer directly owned 821,115 shares in the company, valued at $1,888,564.50. This trade represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allbirds Stock Performance

Shares of NASDAQ BIRD traded up $0.07 during midday trading on Monday, hitting $2.37. The company’s stock had a trading volume of 227,415 shares, compared to its average volume of 2,734,383. Allbirds, Inc. has a 1-year low of $2.15 and a 1-year high of $24.31. The firm’s fifty day moving average price is $2.50 and its 200-day moving average price is $3.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.70 and a current ratio of 3.70. The firm has a market cap of $20.87 million, a P/E ratio of -0.26 and a beta of 2.62.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Tuesday, August 18th. The company reported ($1.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.10. The firm had revenue of $2.76 million for the quarter, compared to analysts’ expectations of $29.50 million. Allbirds had a negative net margin of 72.82% and a negative return on equity of 231.86%.

Analysts Set New Price Targets

BIRD has been the subject of a number of analyst reports. Wall Street Zen lowered Allbirds from a “hold” rating to a “sell” rating in a research report on Sunday, August 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Allbirds in a research report on Thursday, August 27th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

Hedge Funds Weigh In On Allbirds

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRD. Engineers Gate Manager LP bought a new stake in Allbirds during the 2nd quarter valued at $73,000. Performa Ltd US LLC grew its stake in shares of Allbirds by 36.2% in the first quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock worth $75,000 after purchasing an additional 6,650 shares in the last quarter. Finally, Cygnus Capital Advisors LLC acquired a new position in shares of Allbirds during the second quarter valued at $186,000. 44.07% of the stock is owned by institutional investors.

About Allbirds

Allbirds, Inc is a lifestyle footwear and apparel company known for products designed with an emphasis on natural and renewable materials. Its product range has included casual shoes, running shoes, sandals, clothing and accessories for men and women.

The company has used materials such as merino wool, eucalyptus fiber and sugarcane-based foam in selected products. Allbirds markets its offerings through its e-commerce platform, company-operated retail stores and, in some markets, other distribution channels.

Allbirds was founded in 2015 by Tim Brown and Joey Zwillinger.