Key Points
- CFO Ann Mitchell sold 19,508 Allbirds shares at an average price of $2.30, worth $44,868.40. The sale covered tax-withholding obligations tied to vested equity awards and reduced her direct holdings by 2.32%.
- Allbirds shares opened at $2.37, with a market capitalization of about $20.88 million, and have traded between $2.15 and $24.31 over the past year. The company reported a quarterly loss of $1.39 per share and revenue of $2.76 million, far below the $29.50 million estimate.
- Analyst sentiment remains negative, with ratings of “Hold” and “Sell” producing an average MarketBeat rating of “Reduce.” Institutional investors own approximately 44.07% of the company.
Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) CFO Ann Mitchell sold 19,508 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $1,888,564.50. The trade was a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 $2.37 on Tuesday. The company has a market capitalization of $20.88 million, a PE ratio of -0.26 and a beta of 2.62. 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 company has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $3.79. Allbirds, Inc. has a one year low of $2.15 and a one year high of $24.31.
Allbirds (NASDAQ:BIRD - Get Free Report) last released its quarterly earnings results on Tuesday, August 18th. The company reported ($1.39) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.10. Allbirds had a negative net margin of 72.82% and a negative return on equity of 231.86%. The business had revenue of $2.76 million during the quarter, compared to analyst estimates of $29.50 million.
Institutional Investors Weigh In On Allbirds
A number of large investors have recently modified their holdings of the business. Cygnus Capital Advisors LLC purchased a new position in shares of Allbirds in the 2nd quarter valued at approximately $186,000. Engineers Gate Manager LP purchased a new stake in Allbirds during the 2nd quarter worth approximately $73,000. Finally, Performa Ltd US LLC grew its position in Allbirds by 36.2% during 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. Hedge funds and other institutional investors own 44.07% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Allbirds from a "hold" rating to a "sell" rating in a research report on Sunday, August 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Allbirds in a report on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Allbirds currently has an average rating of "Reduce".
View Our Latest Stock Report on Allbirds
Allbirds Company Profile
(
Get Free Report)
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.
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