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 stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at approximately $35,624,448. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Airbnb Price Performance

NASDAQ:ABNB traded down $10.85 during trading hours on Thursday, hitting $147.05. 14,791,206 shares of the stock traded hands, compared to its average volume of 4,584,189. Airbnb, Inc. has a 1 year low of $103.55 and a 1 year high of $170.10. The stock has a 50 day moving average price of $161.68 and a 200 day moving average price of $145.50. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The company has a market cap of $95.15 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Sell-side analysts forecast that Airbnb, Inc. will post 4.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Airbnb

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after purchasing an additional 10,301,746 shares during the last quarter. Edgewood Management LLC increased its position in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Jennison Associates LLC increased its position in Airbnb by 57.9% in the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares during the last quarter. Norges Bank bought a new stake in Airbnb in the fourth quarter worth $619,584,000. Finally, Northern Trust Corp increased its position in Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock worth $598,745,000 after purchasing an additional 1,276,456 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABNB shares. Susquehanna increased their price target on shares of Airbnb from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, February 14th. B. Riley Financial began coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target for the company. Wells Fargo & Company raised their target price on shares of Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a research report on Monday, April 1st. Royal Bank of Canada raised their target price on shares of Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Thursday. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $151.91.

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.