Insider Selling: Airbnb, Inc. (NASDAQ:ABNB) CTO Sells 600 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $148.47, for a total transaction of $89,082.00. Following the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at $30,818,511.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Airbnb Stock Up 0.8 %

ABNB stock opened at $147.99 on Friday. The business’s 50-day moving average price is $148.00 and its 200-day moving average price is $151.94. The stock has a market cap of $95.31 billion, a P/E ratio of 19.81, a PEG ratio of 1.82 and a beta of 1.18. Airbnb, Inc. has a twelve month low of $113.24 and a twelve month high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. On average, equities research analysts forecast that Airbnb, Inc. will post 4.65 EPS for the current year.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Airbnb in the fourth quarter valued at about $619,584,000. Jennison Associates LLC lifted its holdings in Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares during the period. Edgewood Management LLC raised its position in shares of Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABNB. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of Airbnb in a report on Thursday. Wedbush upgraded Airbnb from a “neutral” rating to an “outperform” rating and increased their target price for the company from $160.00 to $165.00 in a research note on Tuesday, May 28th. Piper Sandler restated a “neutral” rating and issued a $155.00 price target (up previously from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. Piper Sandler Companies increased their price objective on Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, UBS Group boosted their target price on Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $151.94.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.