Airbnb (NASDAQ:ABNB) CTO Sells $73,746.00 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle Balogh sold 600 shares of the 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 transaction, the chief technology officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Airbnb Stock Down 0.6%

Airbnb stock traded down $0.78 during midday trading on Monday, reaching $122.92. 3,873,629 shares of the stock traded hands, compared to its average volume of 5,221,259. The stock’s fifty day moving average is $127.69 and its 200-day moving average is $127.71. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The stock has a market cap of $76.39 billion, a P/E ratio of 29.76, a PEG ratio of 2.26 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Airbnb

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Airbnb by 0.5% in the second quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock worth $4,982,067,000 after buying an additional 183,336 shares during the period. Harris Associates L P raised its holdings in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after buying an additional 4,292,383 shares during the period. Geode Capital Management LLC grew its stake in Airbnb by 1.5% in the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after purchasing an additional 145,788 shares in the last quarter. Northern Trust Corp grew its stake in Airbnb by 2.5% in the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock worth $525,979,000 after purchasing an additional 106,135 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABNB. Barclays set a $105.00 price target on Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Zacks Research upgraded Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Truist Financial decreased their price objective on Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a research report on Wednesday, September 3rd. Citizens Jmp upgraded Airbnb to a “hold” rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada upped their price objective on Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $141.46.

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.