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SAN FRANCISCO — Aristotle N. Balogh, the Chief Technology Officer of Airbnb, Inc. (NASDAQ:ABNB), sold 700 shares of the company’s Class A Common Stock on March 25, according to a recent SEC filing. The company, which boasts impressive gross profit margins of 83% and holds more cash than debt on its balance sheet, has demonstrated strong financial health with a return on equity of 32%. The shares were sold at a price of $129.55 each, totaling $90,685.
Following the transaction, Balogh retains ownership of 170,719 shares. The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on August 30, 2024. This allows insiders to set up a predetermined schedule for selling stocks to avoid concerns about insider trading.
In other recent news, Airbnb Inc . reported robust financial results for the fourth quarter of 2024, with revenue increasing 12% year-over-year to $2.5 billion, driven by a rise in night stays. The company’s Gross Booking (NASDAQ:BKNG) Value (GBV) rose 13% to $17.6 billion, supported by a 12% increase in Nights and Experiences Booked. Tigress Financial Partners raised its 12-month price target for Airbnb to $200, maintaining a Buy rating, citing strong performance and strategic initiatives. Mizuho (NYSE:MFG) Securities also maintained an Outperform rating with a $185 price target, highlighting Airbnb’s growth investments and operating leverage. Meanwhile, Bernstein reiterated its $185 target, acknowledging market share losses but expressing confidence in Airbnb’s growth potential. TD Cowen reiterated a Buy rating with a $175 target, noting a strategic move by Airbnb’s "Hotel Tonight" brand to offer 10% rewards on bookings. Amidst these developments, the travel sector experienced a downturn due to Delta Air Lines (NYSE:DAL)’ profit forecast reduction, affecting companies like Airbnb. Despite these challenges, analysts remain optimistic about Airbnb’s strategic initiatives and growth prospects.
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