Airbnb, Inc. (NASDAQ:ABNB) Sees Significant Drop in Short Interest

Airbnb, Inc. (NASDAQ:ABNB) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 14,360,000 shares, a decline of 5.3% from the December 15th total of 15,160,000 shares. Based on an average trading volume of 4,440,000 shares, the short-interest ratio is presently 3.2 days.

Airbnb Stock Performance

NASDAQ:ABNB opened at $135.12 on Tuesday. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $85.66 billion, a PE ratio of 47.41, a PEG ratio of 1.63 and a beta of 1.13. The firm’s fifty day simple moving average is $134.16 and its 200 day simple moving average is $131.81.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the business posted $2.39 EPS. On average, sell-side analysts anticipate that Airbnb will post 3.99 EPS for the current year.

Insider Activity

In other news, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares in the company, valued at $5,559,597. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total value of $81,198.00. Following the sale, the chief technology officer now owns 192,244 shares of the company’s stock, valued at approximately $26,016,380.52. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,382 shares of company stock valued at $150,441,919 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Large investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Airbnb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management raised its stake in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Airbnb in the 3rd quarter valued at $30,000. Quarry LP acquired a new position in Airbnb in the third quarter valued at about $55,000. Finally, CVA Family Office LLC grew its position in shares of Airbnb by 131.2% during the 3rd quarter. CVA Family Office LLC now owns 474 shares of the company’s stock worth $60,000 after buying an additional 269 shares during the period. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the subject of several research reports. Robert W. Baird boosted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Bank of America boosted their target price on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. TD Cowen lifted their target price on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Citigroup raised their price target on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group boosted their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.63.

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.