Hsbc Holdings PLC Increases Stock Holdings in Allbirds, Inc. (NASDAQ:BIRD)

Hsbc Holdings PLC lifted its stake in shares of Allbirds, Inc. (NASDAQ:BIRD – Get Rating) by 165.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,646 shares of the company’s stock after buying an additional 41,586 shares during the quarter. Hsbc Holdings PLC’s holdings in Allbirds were worth $203,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BIRD. Victory Capital Management Inc. acquired a new stake in Allbirds during the 3rd quarter valued at approximately $32,000. Performa Ltd US LLC grew its stake in Allbirds by 131.6% during the 3rd quarter. Performa Ltd US LLC now owns 11,000 shares of the company’s stock valued at $33,000 after purchasing an additional 6,250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Allbirds during the 3rd quarter valued at approximately $33,000. International Assets Investment Management LLC acquired a new stake in Allbirds during the 3rd quarter valued at approximately $34,000. Finally, Captrust Financial Advisors grew its stake in Allbirds by 90.8% during the 1st quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock valued at $39,000 after purchasing an additional 3,100 shares in the last quarter. 33.14% of the stock is currently owned by hedge funds and other institutional investors.

Allbirds Price Performance

Shares of Allbirds stock opened at $1.25 on Friday. The business’s fifty day moving average price is $2.67 and its two-hundred day moving average price is $3.00. The company has a market capitalization of $186.69 million, a P/E ratio of -1.81 and a beta of 1.90. Allbirds, Inc. has a 1-year low of $1.20 and a 1-year high of $6.85.

Analyst Ratings Changes

BIRD has been the subject of several research reports. William Blair lowered Allbirds from an “outperform” rating to a “market perform” rating in a research report on Friday. Guggenheim lowered Allbirds from a “buy” rating to a “neutral” rating in a research report on Friday. Morgan Stanley decreased their target price on Allbirds from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 22nd. Wedbush lowered Allbirds from an “outperform” rating to a “neutral” rating and set a $3.00 target price for the company. in a research report on Monday, March 6th. Finally, Telsey Advisory Group lowered Allbirds from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $4.00 to $2.25 in a research report on Friday. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.84.

Insider Buying and Selling at Allbirds

In other news, CEO Joseph Zwillinger sold 92,643 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $2.78, for a total value of $257,547.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Joseph Zwillinger sold 92,643 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $2.78, for a total value of $257,547.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael J. Bufano sold 10,570 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $2.82, for a total value of $29,807.40. Following the completion of the sale, the chief financial officer now directly 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.

Allbirds Profile

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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.