Key Points
- Allbirds CEO Joseph Vernachio sold 3,359 shares on June 2 at an average price of $4.47, totaling about $15,015. The sale reduced his direct ownership by 3.93% and was made to cover tax withholding tied to vesting equity awards.
- Allbirds’ stock was trading around $4.10 when reported, giving the company a market cap of about $36.12 million. The shares remain well below their 52-week high of $24.31, and the company continues to show weak profitability metrics.
- Analyst sentiment remains cautious, with recent rating cuts leaving Allbirds at an average “Reduce” rating and a $8.00 target price. Institutional ownership is still notable, with hedge funds and other institutions holding about 44.07% of the stock.
Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) CEO Joseph Vernachio sold 3,359 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.47, for a total transaction of $15,014.73. Following the completion of the transaction, the chief executive officer directly owned 82,210 shares of the company's stock, valued at $367,478.70. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Allbirds Stock Performance
Shares of Allbirds stock opened at $4.10 on Thursday. The firm has a market capitalization of $36.12 million, a P/E ratio of -0.45 and a beta of 2.56. The company has a quick ratio of 0.68, a current ratio of 1.59 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average price of $5.08 and a 200 day moving average price of $4.31. Allbirds, Inc. has a 52 week low of $2.15 and a 52 week high of $24.31.
Allbirds (NASDAQ:BIRD - Get Free Report) last posted its quarterly earnings results on Monday, April 20th. The company reported ($2.37) earnings per share (EPS) for the quarter. Allbirds had a negative return on equity of 173.54% and a negative net margin of 53.36%.The business had revenue of $22.32 million for the quarter.
Wall Street Analyst Weigh In
BIRD has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Allbirds from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Maxim Group lowered shares of Allbirds from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings raised shares of Allbirds from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allbirds currently has an average rating of "Reduce" and an average target price of $8.00.
Check Out Our Latest Stock Report on BIRD
Hedge Funds Weigh In On Allbirds
Institutional investors have recently made changes to their positions in the company. Performa Ltd US LLC increased its holdings in shares of Allbirds by 36.2% during the 1st quarter. Performa Ltd US LLC now owns 25,000 shares of the company's stock valued at $75,000 after purchasing an additional 6,650 shares in the last quarter. Tenzing Global Management LLC purchased a new position in shares of Allbirds during the 2nd quarter valued at approximately $3,762,000. Vanguard Group Inc. increased its holdings in shares of Allbirds by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 243,983 shares of the company's stock valued at $1,383,000 after purchasing an additional 11,459 shares in the last quarter. PDT Partners LLC increased 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 purchasing an additional 3,545 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Allbirds by 46.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company's stock valued at $143,000 after purchasing an additional 11,100 shares in the last quarter. 44.07% of the stock is owned by hedge funds and other institutional investors.
Allbirds Company Profile
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Get Free Report)
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.
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