Airbnb, Inc. (NASDAQ:ABNB) Sees Large Growth in Short Interest

Airbnb, Inc. (NASDAQ:ABNB) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 14,780,000 shares, an increase of 7.3% from the October 15th total of 13,770,000 shares. Based on an average daily volume of 4,260,000 shares, the days-to-cover ratio is presently 3.5 days.

Airbnb Stock Performance

Airbnb stock opened at $132.50 on Friday. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The stock’s 50-day moving average is $130.99 and its 200-day moving average is $136.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $85.01 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company posted $2.39 earnings per share. Equities analysts anticipate that Airbnb will post 4.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABNB. JPMorgan Chase & Co. increased their price target on Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Barclays increased their price objective on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Robert W. Baird boosted their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six research 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’s stock. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus target price of $139.31.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,259,958.40. The trade was a 41.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This trade represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. increased its position in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Airbnb by 158.1% in 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 purchasing an additional 3,558,178 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Airbnb during the 1st quarter valued at $265,292,000. Finally, Meritage Group LP bought a new stake in shares of Airbnb in the third quarter valued at about $160,985,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

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.