Insider Selling: Beyond Meat, Inc. (NASDAQ:BYND) Insider Sells 313,000 Shares of Stock

Beyond Meat, Inc. (NASDAQ:BYND) insider Ethan Brown sold 313,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the transaction, the insider now directly owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Beyond Meat Price Performance

BYND stock opened at $3.71 on Tuesday. The company’s 50 day simple moving average is $5.51 and its 200-day simple moving average is $6.14. Beyond Meat, Inc. has a 12 month low of $3.65 and a 12 month high of $12.12. The firm has a market capitalization of $241.90 million, a PE ratio of -0.89 and a beta of 2.22.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, November 6th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The company had revenue of $81.01 million for the quarter, compared to analyst estimates of $80.13 million. During the same quarter last year, the company posted ($1.09) EPS. Beyond Meat’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Beyond Meat, Inc. will post -2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BYND. Charles Schwab Investment Management Inc. boosted its stake in shares of Beyond Meat by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after purchasing an additional 7,332 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Beyond Meat by 9,676.7% during the second quarter. Nisa Investment Advisors LLC now owns 61,789 shares of the company’s stock worth $415,000 after acquiring an additional 61,157 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Beyond Meat by 42.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock worth $4,240,000 after acquiring an additional 186,996 shares during the period. Vontobel Holding Ltd. raised its holdings in Beyond Meat by 91.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock valued at $3,863,000 after acquiring an additional 272,240 shares during the last quarter. Finally, Raymond James & Associates purchased a new position in shares of Beyond Meat during the 2nd quarter worth $1,463,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Mizuho dropped their price objective on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, August 26th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, Beyond Meat has a consensus rating of “Hold” and a consensus target price of $5.50.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.