Airbnb (NASDAQ:ABNB) Insider Nathan Blecharczyk Sells 31,033 Shares

Key Points

• Airbnb insider Nathan Blecharczyk sold 31,033 shares on June 26 at an average price of $146.43, for about $4.54 million. After the sale, he still held 77,600 shares, and the filing showed his position fell by 28.57%.
• Airbnb shares fell 2.8% to $143.10 in Tuesday trading, though the stock remains above its 50-day and 200-day moving averages. The company’s market value was about $86.25 billion.
• Airbnb’s latest earnings were mixed: it beat revenue expectations with $2.68 billion in quarterly sales, but EPS of $0.26 missed the $0.31 consensus estimate. Analysts currently rate the stock a “Moderate Buy” with an average target price of $158.36.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) insider Nathan Blecharczyk sold 31,033 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $146.43, for a total transaction of $4,544,162.19. Following the transaction, the insider owned 77,600 shares of the company's stock, valued at approximately $11,362,968. The trade was a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nathan Blecharczyk also recently made the following trade(s):

• On Thursday, June 25th, Nathan Blecharczyk sold 2,113 shares of Airbnb stock. The shares were sold at an average price of $145.09, for a total transaction of $306,575.17.
• On Wednesday, June 24th, Nathan Blecharczyk sold 88,366 shares of Airbnb stock. The stock was sold at an average price of $145.81, for a total transaction of $12,884,646.46.
• On Wednesday, May 20th, Nathan Blecharczyk sold 2,739 shares of Airbnb stock. The shares were sold at an average price of $131.40, for a total transaction of $359,904.60.
• On Monday, May 11th, Nathan Blecharczyk sold 627 shares of Airbnb stock. The shares were sold at an average price of $145.67, for a total transaction of $91,335.09.
• On Friday, May 8th, Nathan Blecharczyk sold 60,136 shares of Airbnb stock. The shares were sold at an average price of $145.70, for a total transaction of $8,761,815.20.
• On Wednesday, April 22nd, Nathan Blecharczyk sold 24,788 shares of Airbnb stock. The stock was sold at an average price of $145.86, for a total value of $3,615,577.68.
• On Tuesday, April 21st, Nathan Blecharczyk sold 10,777 shares of Airbnb stock. The shares were sold at an average price of $145.25, for a total value of $1,565,359.25.

Airbnb Trading Down 2.8%

Shares of Airbnb stock traded down $4.07 on Tuesday, hitting $143.10. 3,231,379 shares of the company's stock traded hands, compared to its average volume of 4,211,354. The company has a fifty day moving average of $137.54 and a two-hundred day moving average of $133.08. Airbnb, Inc. has a one year low of $110.81 and a one year high of $150.19. The company has a market capitalization of $86.25 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results 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). The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Basecamp Wealth Advisors LLC increased its holdings in Airbnb by 99.6% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 521 shares of the company's stock worth $66,000 after purchasing an additional 260 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Airbnb by 2.5% in the first quarter. Pacer Advisors Inc. now owns 2,325,214 shares of the company's stock valued at $293,628,000 after purchasing an additional 56,250 shares in the last quarter. Carmignac Gestion boosted its position in shares of Airbnb by 40.8% during the first quarter. Carmignac Gestion now owns 659,570 shares of the company's stock valued at $83,290,000 after buying an additional 191,200 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Airbnb by 0.3% during the first quarter. Glenmede Trust Co. NA now owns 124,185 shares of the company's stock worth $15,682,000 after buying an additional 331 shares in the last quarter. Finally, Wellington Grp LLC purchased a new stake in Airbnb in the 1st quarter valued at $48,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ABNB shares. Morgan Stanley downgraded shares of Airbnb from an "underweight" rating to an "underweight" rating in a research note on Monday, May 4th. Needham & Company LLC started coverage on shares of Airbnb in a research report on Monday, May 4th. They set a "buy" rating on the stock. Truist Financial raised their target price on Airbnb from $129.00 to $134.00 and gave the company a "hold" rating in a research note on Friday, June 12th. Citigroup reaffirmed an "outperform" rating on shares of Airbnb in a research note on Friday, May 8th. Finally, CICC Research assumed coverage on Airbnb in a report on Friday, June 5th. They issued an "outperform" rating and a $165.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.