Joseph Vernachio Sells 2,483 Shares of Allbirds, Inc. (NASDAQ:BIRD) Stock

Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio sold 2,483 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 38,527 shares of the company’s stock, valued at approximately $236,170.51. The trade was a 6.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Allbirds Stock Performance

NASDAQ BIRD traded up $0.32 during trading on Tuesday, hitting $6.35. 56,812 shares of the company’s stock traded hands, compared to its average volume of 51,400. The stock has a market capitalization of $50.37 million, a price-to-earnings ratio of -0.39 and a beta of 1.60. Allbirds, Inc. has a 12-month low of $5.76 and a 12-month high of $19.00. The business has a 50 day moving average of $6.84 and a 200-day moving average of $9.14.

Analyst Ratings Changes

Separately, Morgan Stanley reduced their price objective on Allbirds from $12.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st.

Institutional Trading of Allbirds

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

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.