Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio Sells 2,483 Shares

Allbirds, Inc. (NASDAQ:BIRD) CEO Joseph Vernachio sold 2,483 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $6.13, for a total transaction of $15,220.79. Following the transaction, the chief executive officer now directly owns 38,527 shares of the company’s stock, valued at approximately $236,170.51. This represents a 6.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Allbirds Price Performance

Shares of NASDAQ:BIRD traded up $0.32 on Tuesday, hitting $6.35. The company’s stock had a trading volume of 56,812 shares, compared to its average volume of 51,400. The company has a market capitalization of $50.37 million, a PE ratio of -0.39 and a beta of 1.60. The company has a 50-day simple moving average of $6.84 and a 200 day simple moving average of $9.14. Allbirds, Inc. has a 1 year low of $5.76 and a 1 year high of $19.00.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut their price target on shares of Allbirds from $12.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st.

Institutional Trading of Allbirds

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Allbirds by 262.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock worth $296,000 after purchasing an additional 30,791 shares in the last quarter. Jane Street Group LLC purchased a new stake in Allbirds in the fourth quarter worth approximately $104,000. Cubist Systematic Strategies LLC bought a new position in Allbirds during the fourth quarter valued at approximately $70,000. Performa Ltd US LLC raised its stake in shares of Allbirds by 64.0% during the fourth quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock worth $57,000 after acquiring an additional 3,200 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Allbirds by 169.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after acquiring an additional 3,919 shares in the last quarter. Hedge funds and other institutional investors own 44.07% of the company’s stock.

About Allbirds

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.