Geode Capital Management LLC Sells 1,001,736 Shares of Allbirds, Inc. (NASDAQ:BIRD)

Geode Capital Management LLC cut its stake in shares of Allbirds, Inc. (NASDAQ:BIRD) by 94.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,462 shares of the company’s stock after selling 1,001,736 shares during the period. Geode Capital Management LLC owned 0.68% of Allbirds worth $631,000 at the end of the most recent reporting period.

Separately, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Allbirds during the second quarter worth about $65,000. Hedge funds and other institutional investors own 44.07% of the company’s stock.

Allbirds Trading Down 2.7 %

Shares of NASDAQ BIRD opened at $6.79 on Friday. Allbirds, Inc. has a 12 month low of $6.54 and a 12 month high of $22.40. The firm has a market capitalization of $53.86 million, a price-to-earnings ratio of -0.42 and a beta of 1.61. The business has a 50-day moving average of $7.85 and a 200-day moving average of $10.52.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Wednesday, November 6th. The company reported ($2.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.45. The business had revenue of $43.00 million during the quarter, compared to analyst estimates of $42.11 million. Allbirds had a negative return on equity of 65.30% and a negative net margin of 60.43%. During the same quarter in the prior year, the firm earned ($4.20) earnings per share. On average, analysts predict that Allbirds, Inc. will post -11.89 earnings per share for the current year.

Allbirds Company Profile

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.