Insider Selling: Airbnb (NASDAQ:ABNB) CTO Sells 2,565 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle Balogh sold 2,565 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $134.79, for a total transaction of $345,736.35. Following the transaction, the chief technology officer directly owned 165,086 shares of the company’s stock, valued at $22,251,941.94. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Airbnb Stock Performance

NASDAQ:ABNB traded down $0.46 during trading hours on Tuesday, reaching $136.49. The stock had a trading volume of 3,451,903 shares, compared to its average volume of 5,164,295. The stock has a market capitalization of $84.02 billion, a PE ratio of 32.42, a PEG ratio of 2.38 and a beta of 1.11. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The company has a 50 day moving average price of $123.72 and a two-hundred day moving average price of $127.49.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $2.13 earnings per share. Equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $165.00 price target on shares of Airbnb in a research report on Friday, November 7th. BNP Paribas Exane began coverage on Airbnb in a report on Monday, November 24th. They issued a “neutral” rating for the company. Wells Fargo & Company increased their price target on Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a report on Monday, December 1st. DA Davidson reaffirmed a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research note on Friday, December 5th. Finally, BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $144.48.

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kentucky Trust Co bought a new position in Airbnb in the second quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Airbnb in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after acquiring an additional 83 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Finally, Wiser Advisor Group LLC acquired a new stake in Airbnb in the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.