Airbnb (NASDAQ:ABNB) Shares Gap Down – Here’s What Happened

Airbnb, Inc. (NASDAQ:ABNB) shares 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ABNB shares. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and boosted their price target for the company from $110.00 to $153.00 in a report on Friday, February 14th. Phillip Securities lowered Airbnb from a “hold” rating to a “moderate sell” rating in a research report on Friday, May 9th. Citigroup reduced their price target on Airbnb from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and raised their target price for the company from $165.00 to $185.00 in a research note on Monday, March 10th. 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.43.

Airbnb Stock Down 2.7%

The stock has a fifty day simple moving average of $122.03 and a two-hundred day simple moving average of $131.20. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a market cap of $83.22 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14.

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

Insider Transactions at Airbnb

In other Airbnb news, 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 transaction of $101,507.00. Following the completion of the transaction, the chief technology officer now owns 173,519 shares in the company, valued at $25,161,990.19. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the transaction, the director now owns 2,294,870 shares in the company, valued at $249,590,061.20. The trade was a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,417,246 shares of company stock worth $176,403,797. Corporate insiders own 27.91% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Large investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. increased its stake in shares of Airbnb by 24.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,140 shares of the company’s stock worth $413,000 after acquiring an additional 610 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Airbnb by 50.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 6,827 shares of the company’s stock worth $897,000 after acquiring an additional 2,296 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Airbnb during the 4th quarter valued at about $1,330,000. Arkadios Wealth Advisors increased its holdings in shares of Airbnb by 8.2% during the 4th quarter. Arkadios Wealth Advisors now owns 2,967 shares of the company’s stock worth $390,000 after buying an additional 225 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Airbnb by 13.2% during the 4th quarter. HB Wealth Management LLC now owns 5,955 shares of the company’s stock worth $783,000 after buying an additional 694 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.