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 company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $137.13, for a total transaction of $82,278.00. Following the transaction, the chief technology officer now owns 213,377 shares of the company’s stock, valued at approximately $29,260,388.01. This represents a 0.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Airbnb Trading Up 1.2%

ABNB stock opened at $137.21 on Tuesday. The company has a market capitalization of $85.95 billion, a PE ratio of 33.22, a P/E/G ratio of 3.52 and a beta of 1.14. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The firm’s 50-day moving average is $126.94 and its 200 day moving average is $130.68. 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 (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ABNB shares. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and upped their target price for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research report on Friday, May 9th. Susquehanna lowered their price objective on shares of Airbnb from $200.00 to $150.00 and set a “positive” rating for the company in a research report on Monday, May 5th. Benchmark lowered their price objective on shares of Airbnb from $178.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a research report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $141.23.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ABNB. Harris Associates L P increased its position in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares during the period. Norges Bank purchased a new position in Airbnb during the 4th quarter valued at about $433,374,000. Pacer Advisors Inc. increased its position in Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the period. Clearbridge Investments LLC increased its position in Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the period. Finally, Two Sigma Advisers LP increased its position in Airbnb by 512.0% during the 4th 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 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.