Airbnb (NASDAQ:ABNB) Trading 5.7% Higher

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group reduced their target price on Airbnb from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley lifted their price target on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus target price of $134.17.

Airbnb Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $78.84 billion, a P/E ratio of 16.39, a PEG ratio of 1.54 and a beta of 1.16. The business has a 50-day moving average price of $126.26 and a 200 day moving average price of $145.03.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate 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 company’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 1,500 shares of Airbnb stock in a transaction that occurred on 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 owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.88, for a total value of $145,880.00. Following the transaction, the chief accounting officer now owns 44,043 shares in the company, valued at approximately $6,424,992.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $150.00, for a total transaction of $225,000.00. Following 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 valued at $67,263,009 over the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Airbnb

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Airbnb by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares in the last quarter. Edgewood Management LLC grew its position in shares of Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares in the last quarter. Jennison Associates LLC grew its position in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 3,558,178 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after purchasing an additional 153,784 shares during the period. Institutional investors own 80.76% of the company’s stock.

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.