Allbirds (NASDAQ:BIRD) Shares Down 3.4%

Allbirds, Inc. (NASDAQ:BIRD)’s share price fell 3.4% during mid-day trading on Wednesday . The stock traded as low as $12.27 and last traded at $12.27. 3,516 shares were traded during trading, a decline of 94% from the average session volume of 55,543 shares. The stock had previously closed at $12.70.

Allbirds Stock Up 1.9 %

The stock has a market cap of $2.02 billion, a P/E ratio of -13.37 and a beta of 1.79. The firm’s 50-day moving average is $12.87 and its two-hundred day moving average is $12.75.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.60) by $1.20. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. The company had revenue of $51.58 million during the quarter, compared to the consensus estimate of $50.34 million. During the same quarter in the prior year, the company posted ($3.60) EPS. Analysts anticipate that Allbirds, Inc. will post -12.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Allbirds

In other Allbirds news, Director Timothy O. Brown sold 2,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Allbirds news, Director Timothy O. Brown sold 2,500 shares of Allbirds stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.80, for a total value of $29,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph Vernachio sold 2,367 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $12.00, for a total transaction of $28,404.00. Following the completion of the sale, the chief executive officer now owns 43,536 shares in the company, valued at $522,432. The disclosure for this sale can be found here. Insiders have sold a total of 5,742 shares of company stock worth $68,404 over the last 90 days. Insiders own 45.50% of the company’s stock.

Institutional Trading of Allbirds

Several large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Allbirds during the second quarter worth $65,000. Coldstream Capital Management Inc. acquired a new stake in shares of Allbirds in the 4th quarter valued at about $274,000. CastleKnight Management LP acquired a new stake in shares of Allbirds in the fourth quarter valued at about $348,000. Finally, Laidlaw Wealth Management LLC bought a new stake in shares of Allbirds in the 4th quarter valued at about $751,000. 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.