Elinor Mertz Sells 3,748 Shares of Airbnb (NASDAQ:ABNB) Stock

Airbnb, Inc. (NASDAQ:ABNB) CFO Elinor Mertz sold 3,748 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $153.34, for a total value of $574,718.32. Following the transaction, the chief financial officer directly owned 441,542 shares in the company, valued at approximately $67,706,050.28. This represents a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Elinor Mertz also recently made the following trade(s):

• On Thursday, July 2nd, Elinor Mertz sold 3,750 shares of Airbnb stock. The stock was sold at an average price of $148.01, for a total transaction of $555,037.50.
• On Tuesday, June 2nd, Elinor Mertz sold 7,433 shares of Airbnb stock. The stock was sold at an average price of $136.24, for a total transaction of $1,012,671.92.

Airbnb Stock Performance

ABNB traded up $2.57 on Wednesday, hitting $152.49. 4,076,578 shares of the company’s stock were exchanged, compared to its average volume of 4,066,802. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $142.33 and a two-hundred day moving average of $135.27. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $156.50. The firm has a market cap of $91.91 billion, a PE ratio of 37.56, a P/E/G ratio of 1.61 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, research analysts anticipate that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ABNB shares. Raymond James Financial upgraded shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a research report on Monday, May 4th. DA Davidson raised their price target on shares of Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $173.00 price target on shares of Airbnb in a report on Thursday, May 21st. Citizens Jmp boosted their price objective on Airbnb from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group increased their price objective on Airbnb from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Airbnb presently has an average rating of “Moderate Buy” and a consensus target price of $160.65.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC acquired a new position in shares of Airbnb in the 2nd quarter worth approximately $284,000. Family Wealth Partners LLC lifted its stake in Airbnb by 5.9% during the second quarter. Family Wealth Partners LLC now owns 2,324 shares of the company’s stock valued at $333,000 after purchasing an additional 130 shares during the last quarter. Tema ETFs LLC boosted its holdings in Airbnb by 8.9% during the second quarter. Tema ETFs LLC now owns 7,062 shares of the company’s stock worth $1,011,000 after buying an additional 580 shares in the last quarter. Chemistry Wealth Management LLC grew its position in Airbnb by 3.8% in the second quarter. Chemistry Wealth Management LLC now owns 29,453 shares of the company’s stock worth $4,215,000 after buying an additional 1,065 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Airbnb by 16.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 6,076 shares of the company’s stock worth $869,000 after buying an additional 875 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Company Profile

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.