Allbirds (NASDAQ:BIRD) CFO Sells $44,868.40 in Stock

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 19,508 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $2.30, for a total value of $44,868.40. Following the sale, the chief financial officer directly owned 821,115 shares of the company’s stock, valued at $1,888,564.50. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allbirds Price Performance

Allbirds stock opened at $2.37 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.70 and a current ratio of 3.70. The firm has a market cap of $20.88 million, a P/E ratio of -0.26 and a beta of 2.62. The business’s fifty day moving average is $2.47 and its two-hundred day moving average is $3.79. Allbirds, Inc. has a 52 week low of $2.15 and a 52 week high of $24.31.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Tuesday, August 18th. The company reported ($1.39) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.10. Allbirds had a negative return on equity of 231.86% and a negative net margin of 72.82%.The company had revenue of $2.76 million for the quarter, compared to analysts’ expectations of $29.50 million.

Hedge Funds Weigh In On Allbirds

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRD. Cygnus Capital Advisors LLC bought a new stake in shares of Allbirds during the 2nd quarter valued at $186,000. Performa Ltd US LLC boosted its position in shares of Allbirds by 36.2% in the 1st quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock worth $75,000 after purchasing an additional 6,650 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Allbirds during the second quarter worth $73,000. 44.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIRD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allbirds in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Allbirds from a “hold” rating to a “sell” rating in a report on Sunday, August 30th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allbirds presently has a consensus rating of “Reduce”.

Allbirds Company Profile

Allbirds, Inc is a lifestyle footwear and apparel company known for products designed with an emphasis on natural and renewable materials. Its product range has included casual shoes, running shoes, sandals, clothing and accessories for men and women.

The company has used materials such as merino wool, eucalyptus fiber and sugarcane-based foam in selected products. Allbirds markets its offerings through its e-commerce platform, company-operated retail stores and, in some markets, other distribution channels.

Allbirds was founded in 2015 by Tim Brown and Joey Zwillinger.