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

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 1,876 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $6.13, for a total value of $11,499.88. Following the sale, the chief financial officer now owns 80,599 shares in the company, valued at approximately $494,071.87. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Allbirds Stock Down 1.6 %

Shares of BIRD opened at $6.35 on Friday. The company has a 50-day moving average price of $6.78 and a two-hundred day moving average price of $9.04. The stock has a market cap of $50.37 million, a price-to-earnings ratio of -0.39 and a beta of 1.56. Allbirds, Inc. has a 12 month low of $5.76 and a 12 month high of $19.00.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Allbirds

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

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.