Airbnb (NASDAQ:ABNB) Reaches New 12-Month Low After Insider Selling

Airbnb, Inc. (NASDAQ:ABNB)’s stock price hit a new 52-week low on Friday after an insider sold shares in the company. The stock traded as low as $106.71 and last traded at $108.48, with a volume of 882095 shares changing hands. The stock had previously closed at $113.97.

Specifically, CEO Brian Chesky sold 38,459 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $120.44, for a total transaction of $4,632,001.96. Following the completion of the transaction, the chief executive officer now owns 11,731,685 shares of the company’s stock, valued at $1,412,964,141.40. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $119.67, for a total transaction of $83,769.00. Following the completion of the sale, the chief technology officer now directly owns 170,019 shares in the company, valued at approximately $20,346,173.73. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABNB shares. UBS Group upped their target price on Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company lowered their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research note on Tuesday, February 4th. Bank of America boosted their target price on shares of Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Finally, HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $147.28.

Airbnb Stock Down 6.4 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The business’s 50 day simple moving average is $133.75 and its 200 day simple moving average is $133.58. The company has a market capitalization of $67.25 billion, a PE ratio of 25.83, a P/E/G ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Airbnb

Several large investors have recently modified their holdings of ABNB. Golden State Wealth Management LLC purchased a new stake in Airbnb in the 4th quarter valued at about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter valued at about $26,000. Park Square Financial Group LLC acquired a new stake in shares of Airbnb during the fourth quarter valued at about $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb in the 4th quarter valued at approximately $28,000. Finally, Graney & King LLC acquired a new position in shares of Airbnb in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.