Airbnb (NASDAQ:ABNB) Shares Gap Down – What’s Next?

Shares of Airbnb, Inc. (NASDAQ:ABNB) gapped down prior to trading on Friday . The stock had previously closed at $147.37, but opened at $134.67. Airbnb shares last traded at $136.85, with a volume of 1,840,384 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on ABNB shares. Truist Financial reduced their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Mizuho lowered their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday. Raymond James initiated coverage on Airbnb in a research report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. Finally, The Goldman Sachs Group cut their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.26.

Airbnb Trading Down 8.7 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $129.14 and a two-hundred day moving average price of $137.72. The firm has a market capitalization of $86.37 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.99 and a beta of 1.15.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after purchasing an additional 791,149 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Airbnb by 158.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares during the period. Legal & General Group Plc increased its position in shares of Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after acquiring an additional 153,784 shares during the last quarter. MKA Charitable Fund raised its stake in shares of Airbnb by 17.2% in the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after acquiring an additional 296,153 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Airbnb by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 2,001,711 shares of the company’s stock worth $330,202,000 after acquiring an additional 12,200 shares during the last quarter. Institutional investors and hedge funds 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.