Airbnb (NASDAQ:ABNB) Trading Up 5.7%

Airbnb, Inc. (NASDAQ:ABNB) shares rose 5.7% during trading on Tuesday . The company traded as high as $124.29 and last traded at $124.22. Approximately 2,181,700 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 4,504,946 shares. The stock had previously closed at $117.55.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ABNB shares. Bank of America dropped their target price on Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wedbush dropped their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Cantor Fitzgerald assumed coverage on shares of Airbnb in a report on Thursday, September 5th. They issued an “underweight” rating and a $94.00 price objective on the stock. Finally, The Goldman Sachs Group reduced their price objective on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Airbnb has an average rating of “Hold” and an average price target of $134.17.

Airbnb Price Performance

The company has a fifty day simple moving average of $127.46 and a two-hundred day simple moving average of $145.45. The stock has a market capitalization of $78.85 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. As a group, equities research analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now directly owns 208,174 shares of the company’s stock, valued at approximately $31,833,968.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the sale, the chief technology officer now directly owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 1,500 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the sale, the director now directly owns 42,087 shares of the company’s stock, valued at $6,313,050. The disclosure for this sale can be found here. Insiders have sold a total of 449,332 shares of company stock worth $67,263,009 over the last quarter. Company insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after purchasing an additional 791,149 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the period. Jennison Associates LLC grew its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after acquiring an additional 3,558,178 shares during the last quarter. Finally, Norges Bank bought a new stake in Airbnb in the 4th quarter valued at about $619,584,000. 80.76% of the stock is currently owned by institutional investors.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.