Allbirds (NASDAQ:BIRD) CEO Sells $11,870.97 in Stock

Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio sold 4,413 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $2.69, for a total transaction of $11,870.97. Following the sale, the chief executive officer owned 85,569 shares in the company, valued at approximately $230,180.61. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Allbirds Price Performance

Shares of NASDAQ:BIRD traded up $0.03 during mid-day trading on Wednesday, reaching $2.79. 51,102 shares of the stock were exchanged, compared to its average volume of 72,021. Allbirds, Inc. has a one year low of $2.63 and a one year high of $12.85. The company has a quick ratio of 1.10, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $3.68 and its 200-day simple moving average is $5.14.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Allbirds from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Maxim Group cut Allbirds from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allbirds in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $11.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BIRD. PDT Partners LLC boosted its holdings in shares of Allbirds by 30.0% during the 2nd quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock valued at $163,000 after acquiring an additional 3,545 shares in the last quarter. Tenzing Global Management LLC acquired a new stake in Allbirds during the 2nd quarter worth approximately $3,762,000. Finley Financial LLC acquired a new position in Allbirds in the 3rd quarter valued at approximately $28,000. Performa Ltd US LLC acquired a new position in shares of Allbirds during the third quarter worth $74,000. Finally, Vanguard Group Inc. grew its stake in shares of Allbirds by 4.9% in the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock worth $1,383,000 after purchasing an additional 11,459 shares during the last quarter. 44.07% of the stock is currently owned by institutional investors and hedge funds.

Allbirds Company Profile

Allbirds, Inc is a sustainable lifestyle company specializing in environmentally friendly footwear and apparel. The company’s core business centers on designing, manufacturing, and selling shoes that leverage natural and recycled materials to minimize ecological impact. Allbirds’ product portfolio includes lifestyle sneakers, running shoes, and casual slip-ons, all engineered for comfort, durability, and low carbon footprint.

The company’s signature offerings include the Wool Runner series, crafted from New Zealand merino wool, and the Tree line, which uses eucalyptus fiber.