Insider Selling: Airbnb (NASDAQ:ABNB) CTO Sells $63,705.96 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle Balogh sold 549 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $116.04, for a total transaction of $63,705.96. Following the sale, the chief technology officer owned 187,686 shares of the company’s stock, valued at $21,779,083.44. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Airbnb Stock Performance

NASDAQ ABNB opened at $120.82 on Friday. The stock has a 50 day simple moving average of $121.52 and a two-hundred day simple moving average of $127.57. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market cap of $74.37 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. Sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Institutional Trading of Airbnb

A number of hedge funds have recently bought and sold shares of ABNB. DDD Partners LLC boosted its position in Airbnb by 3.9% in the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock worth $270,000 after purchasing an additional 76 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Airbnb by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock worth $604,000 after purchasing an additional 78 shares during the period. Harbour Investments Inc. lifted its stake in shares of Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock worth $88,000 after purchasing an additional 80 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Airbnb by 0.8% during the second quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock valued at $1,396,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of a number of recent research reports. Barclays upped their price objective on shares of Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a report on Friday, November 7th. BNP Paribas assumed coverage on Airbnb in a research note on Monday, November 24th. They issued a “hold” rating on the stock. Citizens Jmp upgraded Airbnb to a “hold” rating in a research note on Monday, August 11th. DA Davidson set a $155.00 price target on Airbnb in a report on Friday, November 14th. Finally, KeyCorp initiated coverage on shares of Airbnb in a research note on Thursday, October 23rd. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $143.69.

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.