Airbnb (NASDAQ:ABNB) Shares Gap Down – Time to Sell?

Airbnb, Inc. (NASDAQ:ABNB)’s share price gapped down prior to trading on Friday . The stock had previously closed at $147.37, but opened at $134.67. Airbnb shares last traded at $136.85, with a volume of 1,840,384 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “underweight” rating and set a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. Mizuho dropped their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Wedbush boosted their price target on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets decreased their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Finally, Argus lowered shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $137.97.

Airbnb Price Performance

The stock has a 50-day simple moving average of $128.79 and a 200 day simple moving average of $137.88. The company has a market cap of $87.20 billion, a PE ratio of 18.57, a P/E/G ratio of 1.93 and a beta of 1.15. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data 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). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.17 EPS for the current year.

Insider Buying and Selling at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the 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 of the company’s stock, valued at approximately $23,579,141.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,806 shares of company stock worth $51,809,831 over the last three months. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after acquiring an additional 3,558,178 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after purchasing an additional 1,684,646 shares during the period. Farallon Capital Management LLC acquired a new position in Airbnb during the 1st quarter worth $265,292,000. International Assets Investment Management LLC increased its holdings in Airbnb by 19,430.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after purchasing an additional 1,113,747 shares during the period. Finally, Swedbank AB acquired a new stake in Airbnb in the 1st quarter valued at about $175,496,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.