Platform Technology Partners Takes Position in Allbirds, Inc. (NASDAQ:BIRD)

Platform Technology Partners purchased a new stake in shares of Allbirds, Inc. (NASDAQ:BIRD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 42,000 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Middle East FZE purchased a new stake in Allbirds in the 4th quarter valued at about $28,000. Commonwealth Equity Services LLC raised its holdings in Allbirds by 82.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 26,019 shares of the company’s stock valued at $31,000 after buying an additional 11,789 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Allbirds in the 1st quarter valued at about $33,000. Performa Ltd US LLC raised its holdings in Allbirds by 91.2% in the 1st quarter. Performa Ltd US LLC now owns 32,500 shares of the company’s stock valued at $39,000 after buying an additional 15,500 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Allbirds by 90.8% in the 1st quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock valued at $39,000 after buying an additional 3,100 shares during the period. Institutional investors and hedge funds own 22.88% of the company’s stock.

Allbirds Stock Performance

BIRD stock opened at $1.24 on Tuesday. The company’s 50 day moving average price is $1.39 and its 200 day moving average price is $1.34. Allbirds, Inc. has a fifty-two week low of $1.03 and a fifty-two week high of $3.80.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $70.48 million during the quarter, compared to the consensus estimate of $67.44 million. Allbirds had a negative return on equity of 35.10% and a negative net margin of 40.55%. Equities analysts anticipate that Allbirds, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BIRD shares. Telsey Advisory Group reiterated a “market perform” rating and set a $1.50 price target on shares of Allbirds in a research note on Thursday, September 7th. Wedbush reiterated a “neutral” rating and set a $1.50 price target on shares of Allbirds in a research note on Thursday, September 7th. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.81.

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.