Airbnb, Inc. (NASDAQ:ABNB) Sees Large Drop in Short Interest

Airbnb, Inc. (NASDAQ:ABNB) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 13,340,000 shares, a decline of 9.7% from the October 31st total of 14,780,000 shares. Based on an average daily volume of 4,390,000 shares, the short-interest ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABNB. BMO Capital Markets dropped their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Barclays lifted their price objective on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Citigroup upped their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Phillip Securities reaffirmed a “reduce” rating and set a $120.00 price target on shares of Airbnb in a research note on Tuesday, November 12th. Finally, UBS Group upped their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.97.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 718,017 shares of company stock valued at $91,842,052 in the last three months. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds have recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Airbnb during the third quarter valued at approximately $25,000. Hollencrest Capital Management grew its holdings in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. New Millennium Group LLC acquired a new stake in Airbnb in the 2nd quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new stake in Airbnb during the 2nd quarter valued at $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in Airbnb during the 3rd quarter worth $30,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.6 %

Shares of Airbnb stock opened at $136.11 on Monday. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The stock has a market capitalization of $86.29 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 1.93 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The business’s 50 day simple moving average is $134.15 and its 200-day simple moving average is $135.25.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $2.39 earnings per share. Equities research analysts forecast that Airbnb will post 4.02 earnings per share for the current year.

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.