Airbnb (NASDAQ:ABNB) Sees Strong Trading Volume

Airbnb, Inc. (NASDAQ:ABNB) saw an uptick in trading volume on Thursday . 3,201,216 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 4,516,907 shares.The stock last traded at $131.18 and had previously closed at $122.42.

Analysts Set New Price Targets

ABNB has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Sanford C. Bernstein dropped their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday. B. Riley reduced their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on Airbnb in a research note on Thursday, September 5th. They set an “underweight” rating and a $94.00 price target for the company. Finally, UBS Group decreased their price objective on Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $134.17.

Airbnb Stock Up 1.9 %

The firm has a market cap of $84.49 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.54 and a beta of 1.16. 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 business has a 50-day moving average price of $125.60 and a 200-day moving average price of $144.73.

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 business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. On average, equities analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the sale, the chief technology officer now directly owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the sale, the chief technology officer now owns 209,374 shares in the company, valued at approximately $31,190,444.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business’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 transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. The disclosure for this sale can be found here. Insiders sold 685,451 shares of company stock worth $95,552,289 in the last three months. 27.83% of the stock is owned by insiders.

Institutional Trading of Airbnb

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew its holdings in shares of Airbnb by 45.0% during the fourth quarter. Quadrant Capital Group LLC now owns 912 shares of the company’s stock valued at $124,000 after buying an additional 283 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Airbnb by 27.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,011 shares of the company’s stock worth $274,000 after purchasing an additional 431 shares during the last quarter. Quest Partners LLC purchased a new stake in Airbnb in the fourth quarter valued at approximately $251,000. Dai ichi Life Insurance Company Ltd increased its holdings in Airbnb by 53.0% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 14,428 shares of the company’s stock worth $1,964,000 after buying an additional 5,000 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Airbnb by 44.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $156,000 after buying an additional 354 shares during the last quarter. Hedge funds and other 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.