JPMorgan Chase & Co. Sells 90,936 Shares of Allbirds, Inc. (NASDAQ:BIRD)

JPMorgan Chase & Co. trimmed its stake in Allbirds, Inc. (NASDAQ:BIRD) by 97.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,313 shares of the company’s stock after selling 90,936 shares during the quarter. JPMorgan Chase & Co.’s holdings in Allbirds were worth $27,000 at the end of the most recent reporting period.

Separately, Jacobs Levy Equity Management Inc. acquired a new stake in Allbirds in the third quarter valued at $138,000. Hedge funds and other institutional investors own 44.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Allbirds Price Performance

Shares of BIRD opened at $6.60 on Wednesday. The company’s 50-day moving average is $7.16 and its 200-day moving average is $9.90. The firm has a market capitalization of $52.35 million, a PE ratio of -0.41 and a beta of 1.60. Allbirds, Inc. has a fifty-two week low of $6.09 and a fifty-two week high of $21.00.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.13) by $0.45. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. The firm had revenue of $43.00 million during the quarter, compared to the consensus estimate of $42.11 million. During the same quarter in the previous year, the firm posted ($4.20) EPS. Analysts predict that Allbirds, Inc. will post -11.87 earnings per share for the current fiscal year.

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.