Joseph Vernachio Sells 4,413 Shares of Allbirds (NASDAQ:BIRD) Stock

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

Allbirds Stock Up 1.1%

BIRD stock traded up $0.03 during trading on Wednesday, hitting $2.79. The company had a trading volume of 51,102 shares, compared to its average volume of 72,021. The business has a 50-day moving average of $3.68 and a 200-day moving average of $5.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.10 and a current ratio of 2.37. Allbirds, Inc. has a one year low of $2.63 and a one year high of $12.85.

Hedge Funds Weigh In On Allbirds

A number of hedge funds have recently made changes to their positions in BIRD. Finley Financial LLC purchased a new stake in shares of Allbirds in the third quarter worth about $28,000. Performa Ltd US LLC bought a new position in Allbirds in the third quarter worth about $74,000. Bridgeway Capital Management LLC grew its position in shares of Allbirds by 46.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock worth $143,000 after acquiring an additional 11,100 shares during the last quarter. Jane Street Group LLC bought a new position in Allbirds in the 4th quarter worth approximately $54,000. Finally, Susquehanna International Group LLP acquired a new position in Allbirds during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 44.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BIRD shares. Wall Street Zen cut shares of Allbirds from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Maxim Group lowered Allbirds from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allbirds in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.00.

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.