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 on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total value of $81,666.00. Following the transaction, the chief technology officer now owns 192,844 shares in the company, valued at $26,247,996.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Airbnb Stock Up 1.4 %

ABNB stock opened at $134.58 on Friday. The firm has a market cap of $86.68 billion, a PE ratio of 18.02, a P/E/G ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a 50 day simple moving average of $124.97 and a 200 day simple moving average of $139.19.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABNB shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets decreased their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Mizuho dropped their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group dropped their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $135.35.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently bought and sold shares of the stock. SteelPeak Wealth LLC increased its position in shares of Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after acquiring an additional 985 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Airbnb by 20.6% in the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after acquiring an additional 83,383 shares in the last quarter. Shellback Capital LP acquired a new position in Airbnb in the 2nd quarter worth approximately $22,744,000. Bradley Foster & Sargent Inc. CT grew its position in Airbnb by 1,231.3% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after purchasing an additional 19,183 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Airbnb by 2.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock valued at $182,335,000 after purchasing an additional 26,735 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

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.