Airbnb, Inc. (NASDAQ:ABNB) CEO Brian Chesky Sells 8,000 Shares

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) CEO Brian Chesky sold 8,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the transaction, the chief executive officer now owns 40,800 shares in the company, valued at $5,235,864. This represents a 16.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, April 1st, Brian Chesky sold 38,459 shares of Airbnb stock. The shares were sold at an average price of $120.44, for a total value of $4,632,001.96.
• On Monday, March 17th, Brian Chesky sold 38,461 shares of Airbnb stock. The stock was sold at an average price of $126.60, for a total transaction of $4,869,162.60.

Airbnb Stock Performance

Shares of Airbnb stock traded up $4.04 on Thursday, hitting $137.55. The stock had a trading volume of 2,551,652 shares, compared to its average volume of 4,959,880. The stock has a market cap of $86.16 billion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The business's 50 day moving average is $122.87 and its two-hundred day moving average is $130.66. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Airbnb from a "sell" rating to a "neutral" rating and raised their target price for the company from $110.00 to $153.00 in a research note on Friday, February 14th. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Cantor Fitzgerald reissued an "underweight" rating and set a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Morgan Stanley increased their price target on Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research note on Thursday, April 17th. Finally, Jefferies Financial Group upgraded shares of Airbnb from a "hold" rating to a "buy" rating and boosted their price target for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of "Hold" and an average target price of $141.23.

Institutional Trading of Airbnb

A number of hedge funds have recently added to or reduced their stakes in the stock. Harris Associates L P grew its holdings in shares of Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Norges Bank acquired a new position in Airbnb in the 4th quarter valued at approximately $433,374,000. Pacer Advisors Inc. raised its stake in shares of Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after acquiring an additional 2,685,026 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

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.