State Street Corp Lowers Stock Holdings in Allbirds, Inc. (NASDAQ:BIRD)

State Street Corp cut its stake in shares of Allbirds, Inc. (NASDAQ:BIRD) by 95.0% during the third quarter, HoldingsChannel.com reports. The fund owned 17,877 shares of the company’s stock after selling 339,668 shares during the quarter. State Street Corp’s holdings in Allbirds were worth $211,000 at the end of the most recent quarter.

Separately, Point72 Asia Singapore Pte. Ltd. purchased a new position in Allbirds during the 2nd quarter worth $65,000. Institutional investors own 44.07% of the company’s stock.

Allbirds Trading Up 7.8 %

BIRD opened at $7.18 on Friday. The company has a market capitalization of $56.95 million, a price-to-earnings ratio of -0.45 and a beta of 1.61. Allbirds, Inc. has a 12-month low of $6.54 and a 12-month high of $25.60. The business’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $10.66.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Wednesday, November 6th. The company reported ($2.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.45. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. The company had revenue of $43.00 million for the quarter, compared to analysts’ expectations of $42.11 million. During the same period in the prior year, the business earned ($4.20) EPS. On average, equities research analysts predict that Allbirds, Inc. will post -11.89 EPS for the current year.

Allbirds Profile

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.