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 company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Airbnb Trading Up 1.9 %

Shares of ABNB stock opened at $131.18 on Friday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a 50 day moving average price of $125.60 and a 200 day moving average price of $144.73. The stock has a market capitalization of $84.49 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Equities research analysts predict that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABNB. Mizuho lowered their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company dropped their price target on Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Sanford C. Bernstein reduced their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday. B. Riley dropped their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial reduced their price target on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.17.

Institutional Investors Weigh In On Airbnb

Several large investors have recently bought and sold shares of the stock. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Airbnb during the first quarter worth approximately $7,628,000. Rafferty Asset Management LLC raised its holdings in shares of Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after purchasing an additional 22,551 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in shares of Airbnb by 17.2% in the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after purchasing an additional 985 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Airbnb by 20.6% during the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after purchasing an additional 83,383 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Airbnb by 35.8% during the fourth quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after purchasing an additional 37,785 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.