Insider Selling: Airbnb (NASDAQ:ABNB) CTO Sells 600 Shares of Stock

Key Points

• Airbnb's CTO, Aristotle Balogh, sold 600 shares of company stock at an average price of $123.74, totaling approximately $74,244, which reduced his ownership by 0.30%.
• The stock's recent performance shows a trading price of $125.44, with a market capitalization of approximately $77.95 billion and a P/E ratio of 30.37.
• A recent earnings report revealed Airbnb's EPS was $1.03, exceeding expectations, while revenue for the quarter was $3.10 billion, up 12.7% year-over-year.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) CTO Aristotle Balogh sold 600 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $123.74, for a total value of $74,244.00. Following the completion of the transaction, the chief technology officer owned 199,606 shares of the company's stock, valued at $24,699,246.44. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Airbnb Price Performance

Shares of ABNB stock traded down $1.60 during mid-day trading on Monday, hitting $125.44. The company had a trading volume of 5,589,506 shares, compared to its average volume of 5,254,374. The stock's 50 day moving average price is $129.15 and its 200-day moving average price is $127.86. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market capitalization of $77.95 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.32 and a beta of 1.13.

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

Analyst Ratings Changes

ABNB has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Barclays set a $105.00 target price on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Wedbush decreased their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group dropped their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, BMO Capital Markets set a $124.00 target price on Airbnb and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $141.19.

Institutional Trading of Airbnb

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Reynders McVeigh Capital Management LLC boosted its position in Airbnb by 24.7% during the second quarter. Reynders McVeigh Capital Management LLC now owns 125,044 shares of the company's stock valued at $16,548,000 after purchasing an additional 24,774 shares in the last quarter. Centaurus Financial Inc. raised its holdings in Airbnb by 76.9% in the second quarter. Centaurus Financial Inc. now owns 4,053 shares of the company's stock worth $536,000 after purchasing an additional 1,762 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Airbnb by 21.4% in the second quarter. Orion Porfolio Solutions LLC now owns 43,899 shares of the company's stock worth $5,810,000 after purchasing an additional 7,725 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Airbnb by 11.6% in the second quarter. Neuberger Berman Group LLC now owns 17,241 shares of the company's stock worth $2,282,000 after purchasing an additional 1,798 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Airbnb in the second quarter worth about $447,000. Institutional investors own 80.76% of the company's stock.

Airbnb Company Profile

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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