Insider Selling: Airbnb, Inc. (NASDAQ:ABNB) CTO Sells 20,000 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle N. Balogh sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total value of $2,637,400.00. Following the sale, the chief technology officer now owns 185,414 shares in the company, valued at $24,450,544.18. The trade was a 9.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Airbnb Trading Down 0.4 %

ABNB stock opened at $130.80 on Thursday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The business’s 50-day moving average is $135.20 and its 200 day moving average is $132.95. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market cap of $82.92 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm earned $2.39 earnings per share. On average, sell-side analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABNB shares. Sanford C. Bernstein dropped their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Piper Sandler boosted their price objective on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Mizuho reduced their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. DA Davidson boosted their price target on Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, TD Cowen raised their price objective on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $139.48.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Airbnb during the 3rd quarter valued at about $34,982,000. Tri Ri Asset Management Corp purchased a new stake in shares of Airbnb in the third quarter valued at approximately $6,352,000. J.W. Cole Advisors Inc. increased its holdings in shares of Airbnb by 86.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after purchasing an additional 2,132 shares during the last quarter. Shellback Capital LP purchased a new position in Airbnb during the second quarter worth approximately $22,744,000. Finally, Bradley Foster & Sargent Inc. CT boosted its stake in Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after buying an additional 19,183 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.