Airbnb (NASDAQ:ABNB) Shares Down 4% Following Insider Selling

Airbnb, Inc. (NASDAQ:ABNB) shares were down 4% during mid-day trading on Friday following insider selling activity. The stock traded as low as $128.44 and last traded at $127.87. Approximately 3,744,045 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 3,874,864 shares. The stock had previously closed at $133.24.

Specifically, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total value of $5,122,620.59. Following the completion of the sale, the chief executive officer now directly owns 12,460,447 shares in the company, valued at $1,659,606,935.93. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $135.47, for a total transaction of $94,829.00. Following the completion of the sale, the chief technology officer now directly owns 183,314 shares of the company’s stock, valued at approximately $24,833,547.58. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup increased their price objective on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America increased their target price on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Morgan Stanley raised their target price on shares of Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. Susquehanna lifted their price target on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a report on Monday, November 11th. Finally, Raymond James started coverage on Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.63.

Airbnb Stock Down 4.6 %

The stock has a market cap of $80.57 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 1.80 and a beta of 1.13. The firm’s 50 day moving average is $133.97 and its two-hundred day moving average is $131.39. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the previous year, the company posted $2.39 EPS. On average, sell-side analysts predict that Airbnb, Inc. will post 3.98 EPS for the current year.

Institutional Investors Weigh In On Airbnb

Hedge funds and other institutional investors have recently made changes to their positions in the business. Verde Capital Management boosted its stake in Airbnb by 25.3% in the 4th quarter. Verde Capital Management now owns 21,118 shares of the company’s stock worth $2,775,000 after buying an additional 4,269 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Airbnb during the 3rd quarter worth about $34,982,000. Tri Ri Asset Management Corp acquired a new stake in shares of Airbnb in the third quarter worth approximately $6,352,000. J.W. Cole Advisors Inc. boosted its position in shares of Airbnb by 86.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after acquiring an additional 2,132 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Airbnb by 40.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock valued at $90,123,000 after purchasing an additional 197,558 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.