Insider Selling: Airbnb, Inc. (NASDAQ:ABNB) CTO Sells 700 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $129.55, for a total value of $90,685.00. Following the completion of the transaction, the chief technology officer now directly owns 170,719 shares in the company, valued at approximately $22,116,646.45. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Airbnb Trading Down 2.3 %

Shares of NASDAQ:ABNB traded down $2.99 during trading on Thursday, reaching $125.65. 4,897,547 shares of the company were exchanged, compared to its average volume of 4,417,342. The business’s fifty day simple moving average is $135.71 and its 200-day simple moving average is $133.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $169.11. The firm has a market capitalization of $79.23 billion, a PE ratio of 30.42, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Susquehanna increased their price objective on shares of Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a report on Tuesday, February 18th. Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $165.00 to $185.00 in a report on Monday, March 10th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Friday, February 14th. Finally, Hsbc Global Res upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average target price of $147.36.

Hedge Funds Weigh In On Airbnb

Several institutional investors have recently made changes to their positions in ABNB. Norges Bank bought a new position in Airbnb during the 4th quarter worth about $433,374,000. Clearbridge Investments LLC lifted its position in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares in the last quarter. Meritage Group LP purchased a new position in Airbnb during the third quarter valued at approximately $160,985,000. Finally, Principal Financial Group Inc. increased its holdings in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after buying an additional 1,185,892 shares during the period. 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.