Airbnb (NASDAQ:ABNB) CEO Brian Chesky Sells 16,515 Shares

Key Points

• Airbnb CEO Brian Chesky sold 16,515 shares on June 5 at an average price of $135.17, totaling about $2.23 million. The sale left him with 10,774,327 shares, a small 0.15% reduction in his position.
• The sale is part of a larger recent pattern of insider selling, with Chesky having sold multiple blocks of Airbnb stock in the days leading up to June 5, including several transactions worth millions of dollars each.
• Airbnb shares were trading near $134.43 and are close to their 50-day moving average. The company recently reported Q1 revenue above expectations but earnings per share below estimates, while analysts maintain a “Moderate Buy” consensus and a $157.76 average price target.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) CEO Brian Chesky sold 16,515 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $135.17, for a total transaction of $2,232,332.55. Following the completion of the sale, the chief executive officer owned 10,774,327 shares of the company's stock, valued at approximately $1,456,365,780.59. The trade was a 0.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brian Chesky also recently made the following trade(s):

• On Thursday, June 4th, Brian Chesky sold 64,333 shares of Airbnb stock. The shares were sold at an average price of $136.14, for a total transaction of $8,758,294.62.
• On Tuesday, June 2nd, Brian Chesky sold 62,764 shares of Airbnb stock. The shares were sold at an average price of $134.00, for a total transaction of $8,410,376.00.
• On Monday, June 1st, Brian Chesky sold 15,226 shares of Airbnb stock. The shares were sold at an average price of $136.62, for a total transaction of $2,080,176.12.
• On Monday, June 1st, Brian Chesky sold 184,513 shares of Airbnb stock. The shares were sold at an average price of $135.80, for a total transaction of $25,056,865.40.
• On Friday, May 29th, Brian Chesky sold 4,774 shares of Airbnb stock. The shares were sold at an average price of $135.16, for a total transaction of $645,253.84.
• On Friday, May 29th, Brian Chesky sold 103,937 shares of Airbnb stock. The shares were sold at an average price of $134.39, for a total transaction of $13,968,093.43.
• On Thursday, May 28th, Brian Chesky sold 265,746 shares of Airbnb stock. The shares were sold at an average price of $132.22, for a total transaction of $35,136,936.12.
• On Wednesday, May 27th, Brian Chesky sold 20,000 shares of Airbnb stock. The shares were sold at an average price of $133.17, for a total transaction of $2,663,400.00.
• On Wednesday, May 27th, Brian Chesky sold 229,550 shares of Airbnb stock. The shares were sold at an average price of $133.15, for a total transaction of $30,564,582.50.

Airbnb Price Performance

Shares of ABNB stock traded up $0.89 during midday trading on Monday, reaching $134.43. 3,058,647 shares of the company traded hands, compared to its average volume of 4,218,832. The firm's 50 day simple moving average is $134.32 and its two-hundred day simple moving average is $130.75. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $147.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $81.02 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period last year, the business earned $0.24 earnings per share. The company's revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities research analysts expect that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Airbnb

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Airbnb by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company's stock worth $4,649,814,000 after buying an additional 649,323 shares in the last quarter. Harris Associates L P lifted 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 worth $2,537,205,000 after buying an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 buying an additional 47,966 shares in the last quarter. AQR Capital Management LLC lifted its holdings in 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 buying an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Airbnb by 3.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company's stock worth $824,356,000 after buying an additional 216,455 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Tigress Financial lowered their target price on shares of Airbnb from $200.00 to $185.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Truist Financial upgraded shares of Airbnb from a "sell" rating to a "hold" rating and lifted their price target for the company from $107.00 to $129.00 in a report on Thursday, March 26th. Needham & Company LLC assumed coverage on shares of Airbnb in a report on Monday, May 4th. They issued a "buy" rating on the stock. Cantor Fitzgerald upgraded shares of Airbnb from a "neutral" rating to an "overweight" rating in a report on Monday, May 4th. Finally, Wedbush upgraded shares of Airbnb from a "neutral" rating to a "neutral" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Airbnb has an average rating of "Moderate Buy" and an average price target of $157.76.

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.

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