Insider Selling: Airbnb, Inc. (NASDAQ:ABNB) CTO Sells $72,000.00 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the transaction, the chief technology officer now directly owns 195,844 shares in the company, valued at $23,501,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Airbnb Price Performance

Airbnb stock opened at $131.18 on Friday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company’s 50 day moving average price is $125.60 and its two-hundred day moving average price is $144.73. The stock has a market cap of $84.49 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts predict that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new stake in Airbnb during the first quarter worth about $25,000. New Millennium Group LLC bought a new position in shares of Airbnb during the 2nd quarter valued at approximately $28,000. Trust Co. of Vermont bought a new position in shares of Airbnb during the 4th quarter valued at approximately $27,000. Westend Capital Management LLC purchased a new stake in shares of Airbnb during the 1st quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Airbnb in the 1st quarter worth approximately $33,000. 80.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABNB. Cantor Fitzgerald started coverage on shares of Airbnb in a research note on Thursday, September 5th. They issued an “underweight” rating and a $94.00 price objective for the company. BMO Capital Markets decreased their price target on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their price target on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $134.17.

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.