Insider Selling: Airbnb, Inc. (NASDAQ:ABNB) CTO Sells 700 Shares of Stock

On February 18th, 2023, Aristotle N. Balogh, the Chief Technology Officer (CTO) of Airbnb, Inc. (NASDAQ: ABNB - Get Free Report), sold 700 shares of his company's stock. The shares were sold at an average price of $161.05, resulting in a total transaction value of $112,735. Following this sale, Balogh currently holds 180,514 shares in Airbnb, which amounts to a value of approximately $29,071,779.70. This transaction marked a 0.39% decrease in Balogh's ownership position. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC) and are accessible via their official website.

Airbnb's Stock Performance

As of Thursday, February 13th, Airbnb's stock (NASDAQ: ABNB) fell by $2.67, bringing it down to $155.31 during mid-day trading. The trading volume for the day was recorded at 5,097,997 shares, which is comparable to the average volume of 5,117,667 shares. The company currently enjoys a quick ratio and current ratio of 1.69, with a low debt-to-equity ratio of 0.24. Airbnb's shares have fluctuated between a twelve-month low of $110.38 and a high of $170.10. The 50-day simple moving average for the stock stands at $134.80, while the 200-day moving average is $130.65. The company commands a market capitalization of $98.46 billion, with a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 3.89, and a beta of 1.12.

Recent Earnings Report

Airbnb's latest quarterly earnings report was released on February 13th, revealing earnings per share (EPS) of $0.73. This figure surpassed analysts' expectations of $0.61 by $0.12. The company reported a net margin of 23.85% and a return on equity of 32.29%. Looking ahead, financial analysts project that Airbnb, Inc. will achieve an EPS of 4.29 for the current fiscal year.

Institutional Investment Trends

Recently, several institutional investors and hedge funds have engaged in buying and selling Airbnb shares. For instance, Northwest Investment Counselors LLC initiated a new position in Airbnb during the third quarter, investing approximately $25,000. Other firms, including Golden State Wealth Management LLC and Hollencrest Capital Management, also acquired new stakes in the company worth approximately $25,000 and $26,000, respectively. Overall, institutional investors and hedge funds collectively own about 80.76% of Airbnb's stock.

Analyst Outlook

Analysts have provided varied perspectives on Airbnb's stock. Phillip Securities reissued a "reduce" rating with a target price of $120.00 for Airbnb on November 12th. Conversely, DA Davidson raised their target price from $131.00 to $170.00 while maintaining a "neutral" rating on February 14th. Robert W. Baird upgraded Airbnb from a "neutral" to an "outperform" rating, increasing their price target from $140.00 to $175.00. Additionally, HSBC also upgraded its rating to "buy" on February 14th. The consensus from analysts indicates that the stock holds an average rating of "Hold" with a target price of $147.00.

Company Overview

Airbnb, Inc. operates a platform that connects hosts with guests seeking accommodations and experiences worldwide. The company facilitates online or mobile bookings for private rooms, entire homes, and vacation rentals, thus serving as a bridge between hosts and travelers globally.

Stocks, Selling, Earnings