Airbnb (NASDAQ:ABNB) Shares Break Above 50-Day Moving Average – What’s Next?

Shares of Airbnb, Inc. (NASDAQ:ABNB) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $170.06 and traded as high as $173.05. Airbnb shares last traded at $171.11, with a volume of 5,956,749 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on ABNB. Citigroup reissued a “market outperform” rating on shares of Airbnb in a report on Friday, September 18th. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating in a research note on Friday, October 2nd. Wedbush upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and increased their price target for the company from $152.00 to $200.00 in a report on Friday, August 7th. Susquehanna increased their price target on shares of Airbnb from $170.00 to $200.00 and gave the company a “positive” rating in a report on Friday, August 7th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $210.00 price objective (up from $180.00) on shares of Airbnb in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.43.

Airbnb Stock Up 4.1%

The stock has a market capitalization of $102.46 billion, a PE ratio of 38.89, a P/E/G ratio of 1.90 and a beta of 1.24. The firm has a 50 day moving average of $170.06 and a two-hundred day moving average of $146.83. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. Airbnb’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Equities research analysts anticipate that Airbnb, Inc. will post 5.29 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 531,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the sale, the insider directly owned 171,370 shares of the company’s stock, valued at approximately $29,888,641.70. This represents a 75.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chesky sold 200,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the transaction, the chief executive officer owned 10,501,685 shares of the company’s stock, valued at $1,835,589,521.15. This trade represents a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,281,967 shares of company stock valued at $230,470,521 in the last ninety days. Corporate insiders own 27.21% of the company’s stock.

Institutional Trading of Airbnb

Several institutional investors and hedge funds have recently modified their holdings of the business. Wedmont Private Capital lifted its stake in shares of Airbnb by 1.7% in the second quarter. Wedmont Private Capital now owns 4,517 shares of the company’s stock worth $671,000 after acquiring an additional 75 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Airbnb by 1.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after purchasing an additional 76 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Airbnb by 11.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 800 shares of the company’s stock valued at $114,000 after purchasing an additional 82 shares in the last quarter. Fermata Advisors LLC grew its stake in Airbnb by 5.7% during the 3rd quarter. Fermata Advisors LLC now owns 1,645 shares of the company’s stock valued at $264,000 after purchasing an additional 88 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC increased its holdings in Airbnb by 3.0% during the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 3,085 shares of the company’s stock worth $441,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.