Insider Selling: Airbnb (NASDAQ:ABNB) CTO Sells $74,556.00 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle Balogh sold 600 shares of Airbnb stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $124.26, for a total value of $74,556.00. Following the completion of the transaction, the chief technology officer directly owned 197,206 shares of the company’s stock, valued at approximately $24,504,817.56. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Airbnb Stock Performance

Shares of ABNB opened at $127.50 on Thursday. The company’s 50-day simple moving average is $124.36 and its 200-day simple moving average is $127.54. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock has a market capitalization of $79.23 billion, a PE ratio of 30.87, a P/E/G ratio of 2.35 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analysts Set New Price Targets

ABNB has been the topic of several recent research reports. Citizens Jmp upgraded Airbnb to a “hold” rating in a report on Monday, August 11th. BNP Paribas raised Airbnb to a “hold” rating in a research report on Wednesday, July 16th. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their target price on shares of Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. Finally, BTIG Research reiterated a “neutral” rating on shares of Airbnb in a report on Tuesday, October 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $141.81.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ABNB. Kentucky Trust Co acquired a new stake in shares of Airbnb in the second quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners acquired a new stake in Airbnb during the 2nd quarter worth $28,000. Stonebridge Financial Group LLC grew its position in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its position in Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after purchasing an additional 160 shares during the last quarter. 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.