Aristotle Balogh Sells 600 Shares of Airbnb (NASDAQ:ABNB) Stock

Key Points

• Aristotle Balogh, Airbnb's CTO, sold 600 shares of the company's stock for a total of $74,976, reducing his position by 0.30% and leaving him with 202,006 shares valued at approximately $25.24 million.
• Airbnb reported $1.03 earnings per share for the latest quarter, exceeding analysts' estimates and demonstrating a 12.7% year-over-year revenue growth to $3.10 billion.
• The stock's recent trading price showed a decline, reaching $128.15 with a market capitalization of $79.64 billion and a PE ratio of 31.03.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) CTO Aristotle Balogh sold 600 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $124.96, for a total transaction of $74,976.00. Following the transaction, the chief technology officer owned 202,006 shares in the company, valued at $25,242,669.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Airbnb Stock Performance

ABNB stock traded down $1.77 during mid-day trading on Monday, reaching $128.15. 2,959,998 shares of the stock traded hands, compared to its average volume of 5,273,967. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The stock has a market capitalization of $79.64 billion, a PE ratio of 31.03, a PEG ratio of 2.37 and a beta of 1.13. The business has a 50-day moving average price of $132.62 and a two-hundred day moving average price of $130.54.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Airbnb

Large investors have recently added to or reduced their stakes in the company. Kentucky Trust Co bought a new position in Airbnb in the second quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in shares of Airbnb during the fourth quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Airbnb during the fourth quarter valued at about $28,000. Finally, Concord Wealth Partners acquired a new position in shares of Airbnb during the second quarter valued at about $28,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of analyst reports. Benchmark cut their price objective on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Citigroup lowered their target price on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Susquehanna lowered their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Morgan Stanley lowered their target price on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $142.72.

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.

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