Airbnb (NASDAQ:ABNB) Stock Price Up 5.7%

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

Analyst Upgrades and Downgrades

Several analysts have commented on ABNB shares. Barclays decreased their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. TD Cowen decreased their target price on Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Bank of America cut their price target on Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average price target of $134.17.

Airbnb Stock Performance

The business has a 50-day moving average price of $126.26 and a 200-day moving average price of $145.03. 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 $78.84 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 1,500 shares of the business’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 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 can be accessed through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the transaction, the chief technology officer now directly owns 209,374 shares in the company, valued at $31,190,444.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 1,500 shares of Airbnb stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the sale, the director now directly owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The disclosure for this sale can be found here. Insiders have sold a total of 449,332 shares of company stock worth $67,263,009 over the last 90 days. 27.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

A number of institutional investors have recently bought and sold shares of ABNB. Transcendent Capital Group LLC purchased a new stake in shares of Airbnb in the 1st quarter valued at $25,000. New Millennium Group LLC acquired a new stake in Airbnb in the second quarter valued at approximately $28,000. Trust Co. of Vermont purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $27,000. Westend Capital Management LLC acquired a new position in shares of Airbnb during the 1st quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Airbnb during the first quarter valued at $33,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.