Airbnb (NASDAQ:ABNB) Trading Down 5.8% Following Insider Selling

Airbnb, Inc. (NASDAQ:ABNB)’s share price was down 5.8% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $132.13 and last traded at $131.8890. Approximately 1,826,368 shares traded hands during trading, a decline of 49% from the average daily volume of 3,574,700 shares. The stock had previously closed at $140.07.

Specifically, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $138.45, for a total value of $8,030,100.00. Following the transaction, the director directly owned 518,015 shares of the company’s stock, valued at approximately $71,719,176.75. This trade represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday. Wedbush upped their target price on shares of Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, December 19th. KeyCorp initiated coverage on shares of Airbnb in a research note on Thursday, October 23rd. They set a “sector weight” rating on the stock. Cantor Fitzgerald upgraded Airbnb from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $117.00 to $141.00 in a research note on Thursday, January 8th. Finally, BNP Paribas began coverage on Airbnb in a report on Monday, November 24th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty-one have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $147.84.

Airbnb Stock Performance

The company has a market capitalization of $80.43 billion, a PE ratio of 31.04, a PEG ratio of 2.06 and a beta of 1.09. The stock has a fifty day moving average of $127.80 and a 200 day moving average of $127.79.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.10). The company had revenue of $4.10 billion during 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%.Airbnb’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $2.13 EPS. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Institutional Investors Weigh In On Airbnb

Hedge funds have recently made changes to their positions in the company. Kentucky Trust Co purchased a new stake in shares of Airbnb during the 2nd quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Airbnb during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. ORG Partners LLC grew its stake in shares of Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.