Airbnb (NASDAQ:ABNB) Sees Strong Trading Volume

Airbnb, Inc. (NASDAQ:ABNB) saw strong trading volume on Thursday . 3,201,216 shares were traded 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.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ABNB shares. Argus cut Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Airbnb in a research report on Monday, August 26th. Truist Financial dropped their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird reduced their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Susquehanna cut their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $134.17.

Airbnb Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $84.05 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm 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 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Research analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $150.00, for a total transaction of $816,300.00. Following the completion of the transaction, the director now owns 42,087 shares in the company, valued at $6,313,050. The disclosure for this sale can be found here. Insiders sold a total of 449,332 shares of company stock worth $67,263,009 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several large investors have recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Airbnb in the first quarter valued at about $25,000. Trust Co. of Vermont purchased a new stake in shares of Airbnb in the fourth quarter valued at $27,000. New Millennium Group LLC acquired a new stake in shares of Airbnb during the second quarter valued at $28,000. Vima LLC purchased a new stake in Airbnb during the 4th quarter worth about $29,000. Finally, Cultivar Capital Inc. purchased a new position in Airbnb in the 2nd quarter valued at about $30,000. 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.