Airbnb (NASDAQ:ABNB) Shares Gap Down – What’s Next?

Shares of Airbnb, Inc. (NASDAQ:ABNB) gapped down prior to trading on Tuesday . The stock had previously closed at $136.60, but opened at $133.76. Airbnb shares last traded at $132.45, with a volume of 751,007 shares trading hands.

Analysts Set New Price Targets

ABNB has been the topic of several recent analyst reports. Evercore ISI reduced their target price on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Citigroup dropped their price target on Airbnb from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Hsbc Global Res upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Robert W. Baird lowered their target price on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Finally, Tigress Financial lifted their price target on shares of Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $141.43.

Airbnb Price Performance

The stock has a market cap of $79.88 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a 50-day simple moving average of $122.38 and a two-hundred day simple moving average of $131.18.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Airbnb’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 26,154 shares of Airbnb stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $145.00, for a total transaction of $3,792,330.00. Following the completion of the transaction, the insider now owns 159,337 shares in the company, valued at approximately $23,103,865. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $145.01, for a total value of $101,507.00. Following the transaction, the chief technology officer now directly owns 173,519 shares in the company, valued at approximately $25,161,990.19. This trade represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,414,534 shares of company stock worth $175,979,857 over the last quarter. 27.91% of the stock is currently owned by insiders.

Institutional Trading of Airbnb

Hedge funds have recently made changes to their positions in the business. MJP Associates Inc. ADV lifted its holdings in Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock valued at $490,000 after purchasing an additional 67 shares during the last quarter. CAP Partners LLC raised its position in shares of Airbnb by 3.6% in the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after purchasing an additional 77 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Airbnb by 1.4% during the 4th quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after buying an additional 78 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Airbnb by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after buying an additional 78 shares during the last quarter. Finally, Ellevest Inc. raised its holdings in Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock valued at $349,000 after acquiring an additional 80 shares during the period. 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.