Allbirds, Inc. (NASDAQ:BIRD) Receives Consensus Rating of “Hold” from Brokerages

Shares of Allbirds, Inc. (NASDAQ:BIRD – Get Rating) have received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $3.48.

A number of research firms recently issued reports on BIRD. Telsey Advisory Group downgraded Allbirds from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $4.00 to $2.25 in a report on Friday, March 10th. Morgan Stanley decreased their price objective on Allbirds from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. Guggenheim downgraded Allbirds from a “buy” rating to a “neutral” rating in a report on Friday, March 10th. BTIG Research started coverage on Allbirds in a research report on Monday, February 6th. They set a “neutral” rating on the stock. Finally, Piper Sandler dropped their price objective on Allbirds from $4.00 to $3.00 in a research note on Friday, March 10th.

Insider Buying and Selling

In related news, Director Dan Levitan acquired 75,796 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $81,859.68. Following the completion of the acquisition, the director now directly owns 106,283 shares in the company, valued at $114,785.64. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Allbirds news, CFO Michael J. Bufano sold 10,570 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $2.82, for a total value of $29,807.40. Following the transaction, the chief financial officer now directly owns 323,188 shares in the company, valued at $911,390.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dan Levitan acquired 75,796 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was bought at an average price of $1.08 per share, for a total transaction of $81,859.68. Following the completion of the acquisition, the director now owns 106,283 shares of the company’s stock, valued at $114,785.64. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 162,896 shares of company stock worth $452,220. Insiders own 31.93% of the company’s stock.

Hedge Funds Weigh In On Allbirds

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Allbirds by 6.3% in the third quarter. Vanguard Group Inc. now owns 9,046,131 shares of the company’s stock valued at $27,500,000 after acquiring an additional 535,424 shares in the last quarter. BlackRock Inc. grew its stake in shares of Allbirds by 4.4% in the third quarter. BlackRock Inc. now owns 6,507,837 shares of the company’s stock valued at $19,783,000 after acquiring an additional 273,005 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Allbirds by 651.0% in the first quarter. Lord Abbett & CO. LLC now owns 2,902,677 shares of the company’s stock valued at $17,445,000 after acquiring an additional 2,516,177 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Allbirds by 850.8% in the third quarter. Bank of New York Mellon Corp now owns 2,492,582 shares of the company’s stock valued at $7,578,000 after acquiring an additional 2,230,439 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Allbirds by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,779,674 shares of the company’s stock valued at $4,306,000 after acquiring an additional 37,744 shares in the last quarter. 33.14% of the stock is currently owned by institutional investors and hedge funds.

Allbirds Price Performance

Shares of Allbirds stock opened at $1.08 on Friday. Allbirds has a 1 year low of $1.03 and a 1 year high of $6.85. The business has a 50-day moving average of $2.54 and a two-hundred day moving average of $2.89. The company has a market capitalization of $161.30 million, a P/E ratio of -1.57 and a beta of 1.90.

About Allbirds

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Allbirds, Inc manufactures and sells footwear and apparel products for men and women. It offers shoes, such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals. The company's apparel products include activewear, tops, bottoms, dresses, sweaters, underwear, and socks.