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

Key Points

• Airbnb's CTO, Aristotle Balogh, sold 600 shares of the company's stock for approximately $73,746, reducing his position by 0.30% to 199,006 shares valued at around $24.46 million.
• The company's stock recently traded at $122.92, with a market cap of $76.39 billion, and the consensus rating for Airbnb is currently "Hold" with an average price target of $141.46.
• Airbnb reported earnings per share of $1.03 for the last quarter, exceeding estimates, and showed a year-over-year revenue increase of 12.7% to $3.1 billion.

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) CTO Aristotle Balogh sold 600 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $122.91, for a total value of $73,746.00. Following the completion of the transaction, the chief technology officer owned 199,006 shares of the company's stock, valued at approximately $24,459,827.46. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Airbnb Price Performance

ABNB stock traded down $0.78 during midday trading on Monday, hitting $122.92. The stock had a trading volume of 3,873,629 shares, compared to its average volume of 5,221,259. The business has a 50-day moving average of $127.69 and a two-hundred day moving average of $127.71. The firm has a market cap of $76.39 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ABNB. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a "market perform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wedbush cut their target price on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Finally, BNP Paribas raised Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and an average price target of $141.46.

Institutional Investors Weigh In On Airbnb

A number of large investors have recently made changes to their positions in ABNB. Wealth Enhancement Advisory Services LLC grew its holdings in Airbnb by 82.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 52,493 shares of the company's stock valued at $6,898,000 after purchasing an additional 23,723 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Airbnb by 35.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,200 shares of the company's stock worth $143,000 after buying an additional 314 shares in the last quarter. First Hawaiian Bank raised its holdings in Airbnb by 10.5% during the first quarter. First Hawaiian Bank now owns 7,330 shares of the company's stock valued at $876,000 after acquiring an additional 699 shares during the period. GAMMA Investing LLC lifted its position in shares of Airbnb by 23,657.3% in the first quarter. GAMMA Investing LLC now owns 611,038 shares of the company's stock valued at $72,995,000 after acquiring an additional 608,466 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in Airbnb by 27.6% in the 1st quarter. Rothschild Investment LLC now owns 541 shares of the company's stock worth $65,000 after purchasing an additional 117 shares during the period. 80.76% of the stock is currently owned by institutional investors.

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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