Airbnb (NASDAQ:ABNB) CAO David Bernstein Sells 1,489 Shares

Airbnb, Inc. (NASDAQ:ABNB) CAO David Bernstein sold 1,489 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $168.93, for a total value of $251,536.77. Following the completion of the sale, the chief accounting officer owned 47,024 shares of the company’s stock, valued at approximately $7,943,764.32. The trade was a 3.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Airbnb Stock Down 0.9%

ABNB stock opened at $165.93 on Friday. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The stock has a market cap of $99.36 billion, a P/E ratio of 37.71, a PEG ratio of 1.93 and a beta of 1.16. The business’s 50-day moving average price is $167.32 and its 200-day moving average price is $146.81.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts forecast that Airbnb, Inc. will post 5.24 EPS for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of analyst reports. Phillip Securities cut shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald increased their price target on Airbnb from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. CICC Research began coverage on Airbnb in a report on Friday, June 5th. They set an “outperform” rating and a $165.00 price target on the stock. Raymond James Financial upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Tuesday, September 8th. Finally, Citizens Jmp upped their price objective on Airbnb from $170.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.42.

More Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: TD Cowen upgraded Airbnb to “Strong Buy,” adding to the generally favorable analyst view of the stock. Airbnb’s consensus rating remains “Moderate Buy,” with a consensus price target of approximately $181.42. Zacks Airbnb value analysis
• Positive Sentiment: Airbnb’s latest reported quarter showed adjusted earnings of $1.37 per share versus the $1.26 estimate, while revenue of $3.61 billion exceeded expectations and rose 16.3% year over year. The results reinforce the company’s underlying growth and profitability. Airbnb Q2 earnings performance
• Positive Sentiment: The company announced an initial $250 million affordable-housing fund, beginning with a $6.4 million investment supporting 201 units in Austin, Texas. The initiative could improve Airbnb’s relationship with regulators and address criticism that short-term rentals worsen housing affordability. Airbnb affordable housing fund
• Neutral Sentiment: Morgan Stanley initiated coverage with a $170 price target, implying only modest upside from recent levels. Truist maintained its Hold rating, reflecting mixed near-term conviction among analysts. Morgan Stanley Airbnb coverage
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares worth about $2.35 million, cutting his direct ownership by 39.8%. Chief Accounting Officer David Bernstein separately sold 1,489 shares for roughly $252,000. The transactions may weigh on sentiment, particularly given Blecharczyk’s repeated recent sales. Airbnb insider selling report

Institutional Trading of Airbnb

A number of institutional investors and hedge funds have recently bought and sold shares of ABNB. Anchor Investment Management LLC lifted its stake in Airbnb by 1,236.7% in the 2nd quarter. Anchor Investment Management LLC now owns 401 shares of the company’s stock worth $57,000 after purchasing an additional 371 shares in the last quarter. Reynders McVeigh Capital Management LLC boosted its stake in Airbnb by 1.0% during the second quarter. Reynders McVeigh Capital Management LLC now owns 149,240 shares of the company’s stock valued at $21,356,000 after buying an additional 1,492 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Airbnb by 0.9% in the second quarter. Sequoia Financial Advisors LLC now owns 15,571 shares of the company’s stock valued at $2,228,000 after purchasing an additional 132 shares in the last quarter. Van Hulzen Asset Management LLC increased its position in Airbnb by 281.2% in the second quarter. Van Hulzen Asset Management LLC now owns 28,777 shares of the company’s stock worth $4,118,000 after purchasing an additional 21,227 shares during the last quarter. Finally, National Pension Service raised its stake in Airbnb by 4.6% during the second quarter. National Pension Service now owns 756,339 shares of the company’s stock valued at $108,232,000 after purchasing an additional 33,546 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.

The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.

Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.