Airbnb (NASDAQ:ABNB) Hits New 52-Week High – Here’s What Happened

Airbnb, Inc. (NASDAQ:ABNB) hit a new 52-week high on Wednesday . The stock traded as high as $150.28 and last traded at $149.8140, with a volume of 540286 shares changing hands. The stock had previously closed at $146.54.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABNB. Evercore reaffirmed an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 price objective on shares of Airbnb in a research report on Thursday, May 21st. B. Riley Financial reaffirmed a “buy” rating on shares of Airbnb in a report on Friday, May 8th. Rodman & Renshaw initiated coverage on shares of Airbnb in a research note on Monday, May 4th. They issued a “buy” rating for the company. Finally, DA Davidson lifted their price target on Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Airbnb has a consensus rating of “Moderate Buy” and an average target price of $158.96.

Airbnb Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $90.48 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.57 and a beta of 1.14. The company has a fifty day moving average of $138.72 and a two-hundred day moving average of $134.17.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities research analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 265,746 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total value of $35,136,936.12. Following the sale, the chief executive officer directly owned 11,206,389 shares in the company, valued at approximately $1,481,708,753.58. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the sale, the director directly owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,325,429 shares of company stock valued at $321,925,435. 27.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently modified their holdings of the company. Harris Associates L P boosted its stake in Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Norges Bank bought a new position in shares of Airbnb in the fourth quarter valued at approximately $480,332,000. Jennison Associates LLC boosted its position in shares of Airbnb by 9,331.0% in the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after acquiring an additional 3,139,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Airbnb by 453.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after acquiring an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC purchased a new position in Airbnb during the fourth quarter valued at approximately $342,017,000. 80.76% of the stock is owned by institutional investors.

Airbnb Company Profile

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.