Airbnb, Inc. (NASDAQ:ABNB) CTO Sells $11,928,800.00 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CTO Aristotle N. Balogh sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total value of $11,928,800.00. Following the sale, the chief technology officer now directly owns 207,574 shares in the company, valued at $30,951,359.14. The sale was disclosed in a filing with the SEC, which is available through this link.

Airbnb Price Performance

ABNB opened at $140.10 on Friday. Airbnb, Inc. has a 12-month low of $113.24 and a 12-month high of $170.10. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $147.78 and its 200-day simple moving average is $152.14. The company has a market capitalization of $90.23 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.78 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company earned $0.18 EPS. The business’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ABNB shares. Wedbush raised Airbnb from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $165.00 in a report on Tuesday, May 28th. Piper Sandler reaffirmed a “neutral” rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Piper Sandler Companies upped their price objective on Airbnb from $145.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. BMO Capital Markets upped their price objective on Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Finally, B. Riley started coverage on Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $152.50.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently made changes to their positions in ABNB. Norges Bank purchased a new stake in shares of Airbnb during the 4th quarter worth $619,584,000. Jennison Associates LLC lifted its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Edgewood Management LLC lifted its stake in shares of Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after purchasing an additional 1,684,646 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Company Profile

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.