Airbnb, Inc. (NASDAQ:ABNB) Short Interest Update

Airbnb, Inc. (NASDAQ:ABNB) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 14,780,000 shares, a growth 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 short-interest ratio is presently 3.5 days.

Airbnb Trading Down 0.2 %

Airbnb stock opened at $132.19 on Tuesday. The stock has a market cap of $83.80 billion, a PE ratio of 46.38, a P/E/G ratio of 1.87 and a beta of 1.15. The stock has a 50-day moving average price of $131.30 and a 200 day moving average price of $136.26. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business posted $2.39 earnings per share. Equities research analysts predict that Airbnb will post 4.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Bank of America reaffirmed a “hold” rating and issued a $142.00 price target (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Phillip Securities reissued a “reduce” rating and issued a $120.00 price objective on shares of Airbnb in a report on Tuesday, November 12th. DA Davidson increased their price objective on Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a report on Monday. Royal Bank of Canada decreased their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler increased their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average price target of $138.97.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This represents a 41.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the transaction, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at $23,501,280. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,206 shares of company stock worth $51,738,467 over the last three months. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new stake in Airbnb in the 1st quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in Airbnb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its position in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. New Millennium Group LLC purchased a new stake in Airbnb during the 2nd quarter worth approximately $28,000. Finally, Cultivar Capital Inc. purchased a new stake in Airbnb during the 2nd quarter worth approximately $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

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.