Insider Buying: Allbirds, Inc. (NASDAQ:BIRD) Director Purchases $15,565.50 in Stock

Allbirds, Inc. (NASDAQ:BIRDGet Free Report) Director Dan Levitan purchased 28,825 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was acquired at an average price of $0.54 per share, with a total value of $15,565.50. Following the purchase, the director now owns 217,905 shares of the company’s stock, valued at $117,668.70. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Allbirds Trading Up 2.6 %

Shares of BIRD stock opened at $0.56 on Thursday. The firm has a fifty day moving average price of $0.62 and a 200 day moving average price of $0.85. The company has a market cap of $87.97 million, a P/E ratio of -0.59 and a beta of 1.78. Allbirds, Inc. has a 12 month low of $0.52 and a 12 month high of $1.83.

Allbirds (NASDAQ:BIRDGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Allbirds had a negative net margin of 60.50% and a negative return on equity of 57.15%. The firm had revenue of $39.33 million during the quarter, compared to analysts’ expectations of $39.73 million. On average, equities analysts forecast that Allbirds, Inc. will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Allbirds

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Allbirds by 64.9% in the third quarter. FMR LLC now owns 9,827,176 shares of the company’s stock valued at $10,908,000 after acquiring an additional 3,868,839 shares during the last quarter. Laidlaw Wealth Management LLC purchased a new stake in Allbirds in the fourth quarter valued at $751,000. CastleKnight Management LP purchased a new stake in Allbirds in the fourth quarter valued at $348,000. Arnhold LLC raised its holdings in shares of Allbirds by 20.5% in the fourth quarter. Arnhold LLC now owns 272,905 shares of the company’s stock valued at $334,000 after buying an additional 46,350 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Allbirds in the fourth quarter valued at about $274,000. 44.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BIRD shares. Piper Sandler lowered their target price on shares of Allbirds from $1.60 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Telsey Advisory Group reiterated a “market perform” rating and set a $1.00 target price on shares of Allbirds in a research note on Wednesday, March 6th. Finally, Wedbush lowered their target price on shares of Allbirds from $0.90 to $0.70 and set a “neutral” rating for the company in a research note on Thursday, May 9th.

Check Out Our Latest Report on BIRD

About Allbirds

(Get Free Report)

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.

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