Airbnb (NASDAQ:ABNB) Reaches New 52-Week Low After Insider Selling

by · The Markets Daily

Airbnb, Inc. (NASDAQ:ABNB – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Friday following insider selling activity. The company traded as low as $106.71 and last traded at $108.48, with a volume of 882095 shares trading hands. The stock had previously closed at $113.97.

Specifically, CEO Brian Chesky sold 38,459 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total transaction of $4,632,001.96. Following the sale, the chief executive officer now directly owns 11,731,685 shares of the company’s stock, valued at approximately $1,412,964,141.40. This represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $119.67, for a total transaction of $83,769.00. Following the completion of the transaction, the chief technology officer now 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABNB. UBS Group raised their target price on shares of Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. HSBC raised Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Hsbc Global Res upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Susquehanna boosted their target price on shares of Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Finally, Gordon Haskett raised shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 target price for the company in a research note on Friday, February 14th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $147.28.

View Our Latest Research Report on ABNB

Airbnb Price Performance

The company has a market capitalization of $68.27 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.52 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $134.16 and a 200 day moving average price of $133.65.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Institutional Trading of Airbnb

A number of institutional investors have recently bought and sold shares of ABNB. Norges Bank acquired a new stake in shares of Airbnb during the fourth quarter worth $433,374,000. Clearbridge Investments LLC raised its position in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after acquiring an additional 2,590,475 shares during the period. Two Sigma Advisers LP boosted its stake in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock worth $404,782,000 after acquiring an additional 2,577,000 shares during the last quarter. Meritage Group LP acquired a new stake in Airbnb in the third quarter worth $160,985,000. Finally, Principal Financial Group Inc. increased its position in shares of Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after buying an additional 1,185,892 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

(Get Free Report)

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.

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