Airbnb (NASDAQ:ABNB) CFO Elinor Mertz Sells 3,750 Shares

Airbnb, Inc. (NASDAQ:ABNB) CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $487,500.00. Following the transaction, the chief financial officer directly owned 402,417 shares in the company, valued at approximately $52,314,210. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Elinor Mertz also recently made the following trade(s):

• On Monday, February 2nd, Elinor Mertz sold 3,750 shares of Airbnb stock. The stock was sold at an average price of $130.00, for a total transaction of $487,500.00.
• On Friday, January 2nd, Elinor Mertz sold 3,750 shares of Airbnb stock. The stock was sold at an average price of $135.94, for a total transaction of $509,775.00.
• On Friday, December 12th, Elinor Mertz sold 7,500 shares of Airbnb stock. The shares were sold at an average price of $130.00, for a total transaction of $975,000.00.

Airbnb Price Performance

Shares of ABNB stock traded up $2.50 on Wednesday, hitting $135.54. The company’s stock had a trading volume of 4,251,169 shares, compared to its average volume of 5,053,965. The stock has a market capitalization of $82.50 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 1.50 and a beta of 1.12. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $143.88. The firm’s fifty day moving average price is $130.66 and its 200-day moving average price is $126.37.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.10). The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. Airbnb’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. Analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several analyst reports. Jefferies Financial Group increased their price target on Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, December 5th. Citigroup raised shares of Airbnb from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 4th. Barclays lifted their target price on shares of Airbnb from $120.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Argus raised shares of Airbnb to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Sanford C. Bernstein lowered their price target on Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $149.42.

Institutional Trading of Airbnb

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Airbnb by 1.7% in the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock valued at $4,649,814,000 after buying an additional 649,323 shares during the period. Harris Associates L P raised its holdings in Airbnb by 21.0% in the 4th quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after acquiring an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Airbnb by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after acquiring an additional 47,966 shares during the period. AQR Capital Management LLC lifted its position in shares of Airbnb by 58.4% in the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after acquiring an additional 2,492,847 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after purchasing an additional 216,455 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.