Airbnb (NASDAQ:ABNB) CTO Aristotle Balogh Sells 650 Shares

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle Balogh sold 650 shares of Airbnb stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $128.93, for a total value of $83,804.50. Following the sale, the chief technology officer directly owned 169,511 shares of the company’s stock, valued at $21,855,053.23. This trade represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Airbnb Stock Performance

ABNB opened at $132.01 on Wednesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a market cap of $81.26 billion, a P/E ratio of 31.36, a PEG ratio of 2.32 and a beta of 1.11. The business’s 50-day simple moving average is $122.46 and its 200-day simple moving average is $127.45.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. As a group, analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABNB. KeyCorp started coverage on shares of Airbnb in a research note on Thursday, October 23rd. They issued a “sector weight” rating for the company. Barclays upped their target price on Airbnb from $105.00 to $107.00 and gave the company an “underweight” rating in a research report on Friday, November 7th. UBS Group boosted their price objective on Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Sanford C. Bernstein restated an “outperform” rating and set a $165.00 target price on shares of Airbnb in a research report on Friday, November 7th. Finally, Wells Fargo & Company upped their price target on shares of Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a research report on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $144.85.

Hedge Funds Weigh In On Airbnb

Institutional investors have recently bought and sold shares of the company. DDD Partners LLC raised its position in Airbnb by 3.9% during the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock worth $270,000 after acquiring an additional 76 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Airbnb by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after purchasing an additional 78 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Airbnb by 0.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock worth $1,396,000 after purchasing an additional 85 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Airbnb by 1.0% during the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock worth $1,007,000 after purchasing an additional 86 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

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.