Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell Sells 1,876 Shares

Allbirds, Inc. (NASDAQ:BIRD) CFO Ann Mitchell sold 1,876 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $6.13, for a total transaction of $11,499.88. Following the completion of the transaction, the chief financial officer now owns 80,599 shares of the company’s stock, valued at approximately $494,071.87. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Allbirds Trading Up 5.3 %

Shares of Allbirds stock traded up $0.32 during mid-day trading on Tuesday, reaching $6.35. 56,812 shares of the stock were exchanged, compared to its average volume of 51,400. The firm has a 50-day simple moving average of $6.84 and a 200 day simple moving average of $9.14. The company has a market cap of $50.37 million, a price-to-earnings ratio of -0.39 and a beta of 1.60. Allbirds, Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $19.00.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of Allbirds by 169.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after buying an additional 3,919 shares during the period. Performa Ltd US LLC grew its stake in Allbirds by 64.0% in the fourth quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock valued at $57,000 after acquiring an additional 3,200 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Allbirds during the fourth quarter worth about $70,000. Jacobs Levy Equity Management Inc. bought a new position in Allbirds in the third quarter valued at approximately $138,000. Finally, Jane Street Group LLC acquired a new position in shares of Allbirds during the fourth quarter worth about $104,000. 44.07% of the stock is owned by institutional investors.

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.