Allbirds (NASDAQ:BIRD) Lowered to “Market Perform” at TD Cowen

TD Cowen cut shares of Allbirds (NASDAQ:BIRD – Get Rating) from an outperform rating to a market perform rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has $1.50 price target on the stock, down from their prior price target of $4.00.

Several other brokerages have also commented on BIRD. Guggenheim lowered Allbirds from a buy rating to a neutral rating in a research note on Friday. Telsey Advisory Group lowered Allbirds from an outperform rating to a market perform rating and decreased their price target for the company from $4.00 to $2.25 in a research note on Friday. Robert W. Baird lowered Allbirds from an outperform rating to a neutral rating and decreased their price target for the company from $7.00 to $2.00 in a research note on Friday. Wedbush lowered Allbirds from an outperform rating to a neutral rating and set a $3.00 price target on the stock. in a research note on Monday, March 6th. Finally, BTIG Research initiated coverage on Allbirds in a research note on Monday, February 6th. They issued a neutral rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $4.15.

Allbirds Stock Down 8.0 %

Shares of NASDAQ:BIRD opened at $1.15 on Monday. Allbirds has a 52-week low of $1.10 and a 52-week high of $6.85. The business has a fifty day moving average of $2.64 and a two-hundred day moving average of $2.97. The stock has a market cap of $171.75 million, a P/E ratio of -1.67 and a beta of 1.90.

Insider Buying and Selling at Allbirds

In other Allbirds news, CFO Michael J. Bufano sold 10,570 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $2.82, for a total value of $29,807.40. Following the sale, the chief financial officer now owns 323,188 shares of the company’s stock, valued at approximately $911,390.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Joseph Zwillinger sold 26,200 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $2.76, for a total value of $72,312.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael J. Bufano sold 10,570 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $2.82, for a total value of $29,807.40. Following the completion of the transaction, the chief financial officer now owns 323,188 shares in the company, valued at approximately $911,390.16. The disclosure for this sale can be found here. Insiders have sold 162,896 shares of company stock valued at $452,220 in the last quarter. Corporate insiders own 31.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Point72 Middle East FZE purchased a new position in shares of Allbirds in the 4th quarter valued at about $28,000. Virtu Financial LLC purchased a new position in Allbirds during the 4th quarter worth approximately $90,000. AQR Capital Management LLC purchased a new position in Allbirds during the 4th quarter worth approximately $202,000. Fund 1 Investments LLC purchased a new position in Allbirds during the 4th quarter worth approximately $73,000. Finally, Wexford Capital LP purchased a new position in Allbirds during the 4th quarter worth approximately $487,000. Hedge funds and other institutional investors own 33.14% of the company’s stock.

Allbirds Company Profile

(Get Rating)

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.