Insider Selling: Airbnb (NASDAQ:ABNB) CTO Sells 549 Shares of Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle Balogh sold 549 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $116.04, for a total transaction of $63,705.96. Following the transaction, the chief technology officer owned 187,686 shares in the company, valued at approximately $21,779,083.44. This represents a 0.29% 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 NASDAQ:ABNB traded down $0.30 during midday trading on Tuesday, hitting $118.50. 6,584,417 shares of the stock were exchanged, compared to its average volume of 5,180,614. The company has a market capitalization of $72.94 billion, a PE ratio of 28.15, a P/E/G ratio of 2.06 and a beta of 1.11. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The business’s fifty day simple moving average is $121.70 and its two-hundred day simple moving average is $127.80.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.13 earnings per share. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Kentucky Trust Co acquired a new stake in shares of Airbnb in the second quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Airbnb during the 3rd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings 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 buying an additional 83 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Airbnb by 397.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. Finally, Wiser Advisor Group LLC bought a new position in Airbnb in the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABNB shares. UBS Group raised their price objective on shares of Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Barclays increased their price target on shares of Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Friday, November 7th. Jefferies Financial Group reduced their price objective on shares of Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Wells Fargo & Company increased their target price on shares of Airbnb from $111.00 to $118.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $143.58.

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.