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

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

Allbirds Stock Performance

Shares of Allbirds stock opened at $6.35 on Friday. The company has a market capitalization of $50.37 million, a P/E ratio of -0.39 and a beta of 1.56. The company has a fifty day moving average of $6.78 and a 200 day moving average of $9.04. Allbirds, Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $19.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Performa Ltd US LLC boosted its holdings in shares of Allbirds by 64.0% during the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock valued at $57,000 after purchasing an additional 3,200 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Allbirds by 169.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock valued at $43,000 after purchasing an additional 3,919 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Allbirds during the 4th quarter valued at about $70,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Allbirds during the 3rd quarter valued at about $138,000. Finally, Jane Street Group LLC bought a new position in shares of Allbirds during the 4th quarter valued at about $104,000. Institutional investors own 44.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley dropped their target price on shares of Allbirds from $12.00 to $8.00 and set an “equal weight” rating for the company 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.