Insider Selling: Airbnb (NASDAQ:ABNB) CEO Sells $8,758,294.62 in Stock

Airbnb, Inc. (NASDAQ:ABNB) CEO Brian Chesky sold 64,333 shares of Airbnb stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $136.14, for a total value of $8,758,294.62. Following the sale, the chief executive officer directly owned 10,790,842 shares of the company’s stock, valued at $1,469,065,229.88. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Brian Chesky also recently made the following trade(s):

• On Tuesday, June 9th, Brian Chesky sold 4,195 shares of Airbnb stock. The stock was sold at an average price of $135.71, for a total value of $569,303.45.
• On Monday, June 8th, Brian Chesky sold 37,704 shares of Airbnb stock. The stock was sold at an average price of $135.34, for a total value of $5,102,859.36.
• On Friday, June 5th, Brian Chesky sold 16,515 shares of Airbnb stock. The stock was sold at an average price of $135.17, for a total value of $2,232,332.55.
• On Tuesday, June 2nd, Brian Chesky sold 62,764 shares of Airbnb stock. The stock was sold at an average price of $134.00, for a total value of $8,410,376.00.
• On Monday, June 1st, Brian Chesky sold 15,226 shares of Airbnb stock. The stock was sold at an average price of $136.62, for a total value of $2,080,176.12.
• On Monday, June 1st, Brian Chesky sold 184,513 shares of Airbnb stock. The stock was sold at an average price of $135.80, for a total value of $25,056,865.40.
• On Friday, May 29th, Brian Chesky sold 4,774 shares of Airbnb stock. The stock was sold at an average price of $135.16, for a total value of $645,253.84.
• On Friday, May 29th, Brian Chesky sold 103,937 shares of Airbnb stock. The stock was sold at an average price of $134.39, for a total value of $13,968,093.43.
• On Thursday, May 28th, Brian Chesky sold 265,746 shares of Airbnb stock. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12.
• On Wednesday, May 27th, Brian Chesky sold 20,000 shares of Airbnb stock. The stock was sold at an average price of $133.17, for a total value of $2,663,400.00.

Airbnb Stock Down 1.7%

Shares of NASDAQ ABNB opened at $129.10 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $147.25. The stock has a market capitalization of $77.81 billion, a P/E ratio of 31.80, a PEG ratio of 1.41 and a beta of 1.16. The stock’s fifty day moving average is $134.67 and its 200 day moving average is $131.12.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Sell-side analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harris Associates L P boosted its stake in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares in the last quarter. Independent Franchise Partners LLP acquired a new stake in shares of Airbnb during the third quarter valued at about $505,672,000. Norges Bank acquired a new stake in shares of Airbnb during the fourth quarter valued at about $480,332,000. Jennison Associates LLC boosted its stake in shares of Airbnb by 9,331.0% during the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after purchasing an additional 3,139,315 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Airbnb by 453.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after purchasing an additional 2,724,682 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ABNB. Truist Financial upgraded Airbnb from a “sell” rating to a “hold” rating and lifted their target price for the company from $107.00 to $129.00 in a research report on Thursday, March 26th. Needham & Company LLC began coverage on Airbnb in a research report on Monday, May 4th. They issued a “buy” rating on the stock. Barclays lifted their target price on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Oppenheimer upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research report on Monday, May 4th. Finally, Evercore reiterated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.76.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.