Aristotle N. Balogh, Chief Technology Officer of Airbnb, Inc. (NASDAQ:ABNB), a $83 billion market cap company with impressive 83% gross profit margins, recently sold 700 shares of the company's Class A Common Stock. The transaction, executed on January 21, 2025, was carried out at an average price of $135.47 per share, amounting to a total of $94,829. This sale was part of a pre-arranged trading plan under Rule 10b5-1, which Balogh adopted on August 30, 2024. Following this transaction, Balogh retains ownership of 183,314 shares in the company. According to InvestingPro analysis, Airbnb maintains strong financial health with more cash than debt on its balance sheet, and investors should note the company's upcoming earnings report on February 18, 2025. For deeper insights into Airbnb's valuation and 12 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Airbnb is under investigation in Spain for its failure to remove thousands of unregulated rental listings. The company could face a potential penalty of up to 100,000 euros or an amount equivalent to four to six times the profit generated from these practices. On the financial front, Truist Securities has slightly lowered its price target for Airbnb while maintaining a Hold rating. The firm's analyst has updated the adjusted EBITDA forecast for 2024 to $3.926 billion, with an EPS estimate of $3.92.
In contrast, Booking Holdings (NASDAQ:BKNG) has reported that inflation is still affecting US travel plans, with American consumers delaying their vacation planning. Despite this, the company's CFO, Ewout Steenbergen, remains optimistic about the future of the US travel market.
On another note, DA Davidson has set a new price target for Airbnb at $131.00, reflecting a broader re-rating in the large-cap technology sector and a slight increase in the firm's financial projections for Airbnb. However, PhillipCapital has downgraded Airbnb's stock from Neutral to Reduce, citing concerns about Airbnb's valuation premium. These are the recent developments for both companies.
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