Airbnb (NASDAQ:ABNB) Trading Down 4% on Insider Selling

Airbnb, Inc. (NASDAQ:ABNB) fell 4% during trading on Friday following insider selling activity. The company traded as low as $128.44 and last traded at $127.87. 3,744,045 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 3,874,864 shares. The stock had previously closed at $133.24.

Specifically, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total value of $5,122,620.59. Following the completion of the transaction, the chief executive officer now owns 12,460,447 shares of the company’s stock, valued at $1,659,606,935.93. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $135.47, for a total transaction of $94,829.00. Following the completion of the transaction, the chief technology officer now directly owns 183,314 shares of the company’s stock, valued at approximately $24,833,547.58. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABNB. Truist Financial cut their price objective on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Barclays upped their price target on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Jefferies Financial Group upped their price target on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JMP Securities reiterated a “market perform” rating on shares of Airbnb in a report on Monday, December 16th. Finally, Bank of America upped their price target on shares of Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $139.63.

Airbnb Stock Down 4.6 %

The business has a 50-day moving average of $133.97 and a 200-day moving average of $131.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $80.57 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 1.80 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the firm earned $2.39 earnings per share. On average, sell-side analysts expect that Airbnb, Inc. will post 3.98 EPS for the current year.

Hedge Funds Weigh In On Airbnb

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares during the last quarter. Meritage Group LP acquired a new position in shares of Airbnb in the third quarter valued at approximately $160,985,000. Edgewood Management LLC grew its holdings in Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. International Assets Investment Management LLC grew its holdings in Airbnb by 19,430.3% during the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after acquiring an additional 1,113,747 shares during the period. Finally, Temasek Holdings Private Ltd grew its holdings in Airbnb by 91.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after acquiring an additional 1,109,076 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

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.