Airbnb (NASDAQ:ABNB) Reaches New 12-Month High – Here’s What Happened

Airbnb, Inc. (NASDAQ:ABNB)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $151.24 and last traded at $150.0270, with a volume of 829121 shares trading hands. The stock had previously closed at $146.86.

Analyst Upgrades and Downgrades

ABNB has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Barclays increased their target price on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Wedbush assumed coverage on Airbnb in a research note on Thursday, July 16th. They issued a “neutral” rating and a $152.00 price target on the stock. Citizens Jmp boosted their price target on Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Finally, Rodman & Renshaw initiated coverage on Airbnb in a research report on Monday, May 4th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.23.

Airbnb Stock Up 3.6%

The stock’s fifty day simple moving average is $140.10 and its 200-day simple moving average is $134.68. The stock has a market cap of $91.69 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, research analysts forecast that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $148.01, for a total transaction of $555,037.50. Following the completion of the sale, the chief financial officer owned 445,290 shares of the company’s stock, valued at $65,907,372.90. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth I. Chenault sold 8,346 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the sale, the director owned 40,879 shares in the company, valued at $6,131,850. The trade was a 16.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,245,479 shares of company stock valued at $310,454,308. 27.21% of the stock is owned by insiders.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Partners LLC raised its position in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC boosted its holdings in shares of Airbnb by 143.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. Entrust Financial LLC bought a new position in shares of Airbnb in the 4th quarter valued at $27,000. Meeder Asset Management Inc. increased its stake in shares of Airbnb by 96.3% in the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.