Ethan Brown Sells 313,000 Shares of Beyond Meat, Inc. (NASDAQ:BYND) Stock

Beyond Meat, Inc. (NASDAQ:BYND) insider Ethan Brown sold 313,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the sale, the insider now owns 1,703,288 shares in the company, valued at approximately $6,387,330. This represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $3.65 on Thursday. The stock has a market capitalization of $237.99 million, a PE ratio of -0.87 and a beta of 2.22. Beyond Meat, Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $12.12. The company has a fifty day moving average of $5.40 and a two-hundred day moving average of $6.10.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. The company had revenue of $81.01 million for the quarter, compared to analyst estimates of $80.13 million. During the same quarter last year, the company earned ($1.09) EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts forecast that Beyond Meat, Inc. will post -2.09 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Mizuho dropped their target price on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Hedge Funds Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Beyond Meat by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after purchasing an additional 5,419 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after buying an additional 7,332 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Beyond Meat in the third quarter valued at about $128,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Beyond Meat by 42.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock valued at $4,240,000 after buying an additional 186,996 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Beyond Meat by 91.5% in the third quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock worth $3,863,000 after buying an additional 272,240 shares in the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.