Insider Selling: Airbnb (NASDAQ:ABNB) CFO Sells $1,555,287.60 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CFO Elinor Mertz sold 12,184 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $127.65, for a total value of $1,555,287.60. Following the transaction, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at $56,685,535.50. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Elinor Mertz also recently made the following trade(s):

• On Tuesday, October 28th, Elinor Mertz sold 7,500 shares of Airbnb stock. The stock was sold at an average price of $130.00, for a total value of $975,000.00.
• On Tuesday, September 2nd, Elinor Mertz sold 4,630 shares of Airbnb stock. The stock was sold at an average price of $128.42, for a total value of $594,584.60.

Airbnb Stock Performance

Airbnb stock opened at $126.34 on Friday. The stock has a fifty day moving average of $124.62 and a 200-day moving average of $128.27. The stock has a market capitalization of $78.51 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

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

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its position in Airbnb by 42.8% during the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock valued at $2,015,000 after acquiring an additional 5,060 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its position in Airbnb by 74.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after acquiring an additional 8,780 shares during the last quarter. Plato Investment Management Ltd grew its stake in Airbnb by 53.1% during the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock worth $2,291,000 after purchasing an additional 6,579 shares during the period. Acadian Asset Management LLC grew its stake in Airbnb by 52.9% during the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock worth $293,590,000 after purchasing an additional 850,719 shares during the period. Finally, York GP Ltd. acquired a new stake in Airbnb during the second quarter worth approximately $6,617,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Barclays set a $105.00 target price on Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a report on Tuesday, October 7th. Finally, KeyCorp initiated coverage on Airbnb in a report on Thursday, October 23rd. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $141.70.

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.