David C. Bernstein, the Chief Accounting Officer of Airbnb, Inc. (NASDAQ:ABNB), recently sold 1,000 shares of the company's Class A Common Stock. The shares were sold at a price of $137 each, totaling $137,000. The transaction occurred as Airbnb trades at a P/E ratio of 48x, with the stock currently valued at $138.84. According to InvestingPro analysis, the company maintains impressive gross profit margins of 83% and holds more cash than debt on its balance sheet. Following this transaction, Bernstein holds 40,581 shares directly. This sale was conducted under a Rule 10b5-1 trading plan, which was adopted on February 22, 2024. For deeper insights into insider trading patterns and 13 additional key metrics, InvestingPro subscribers can access the comprehensive Pro Research Report, available for over 1,400 US stocks.
In other recent news, Airbnb Inc (NASDAQ:ABNB). has been the subject of several key financial adjustments and forecasts. Truist Securities has revised its price target for the company down to $123 while maintaining a Hold rating. This decision came after the firm updated its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) forecast for Airbnb for the years 2024 to 2026.
Simultaneously, DA Davidson increased its price target for Airbnb to $131, reflecting a broader re-rating in the large-cap technology sector and a slight increase in the firm's financial projections for the company. This adjustment came after Airbnb's third quarter of 2024 results surpassed expectations, with revenues coming in at $3,732 million, a 10% increase year-over-year.
On the other hand, PhillipCapital downgraded Airbnb's stock from Neutral to Reduce, citing concerns about Airbnb's valuation premium. Despite the downgrade, the firm has slightly increased its revenue and adjusted profit after tax and minority interests estimates for the fiscal year 2024 by 1%.
Evercore ISI maintained its "In Line" rating for Airbnb, based on positive October data from AirDNA, a short-term rental analytics company. Susquehanna also maintained a Positive rating on Airbnb, raising its price target to $160 from the previous $130. The firm's analysis indicates a slight increase in the expected EBITDA and EPS for 2024, and a modest 1% increase in the 2025 revenue estimates. These are the recent developments for Airbnb Inc.
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