Airbnb, Inc. (NASDAQ:ABNB) Sees Large Decrease in Short Interest

Airbnb, Inc. (NASDAQ:ABNB – Get Rating) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 19,150,000 shares, a decline of 5.9% from the February 13th total of 20,340,000 shares. Based on an average trading volume of 6,320,000 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABNB. Morgan Stanley boosted their price objective on shares of Airbnb from $80.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, February 16th. Barclays upped their target price on shares of Airbnb from $105.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 15th. KeyCorp upped their target price on shares of Airbnb from $142.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. UBS Group upped their target price on shares of Airbnb from $114.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Finally, Cowen upped their target price on shares of Airbnb from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $140.52.

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 12,382 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $140.00, for a total value of $1,733,480.00. Following the transaction, the chief accounting officer now owns 50,171 shares in the company, valued at approximately $7,023,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Belinda J. Johnson sold 2,000 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $137.03, for a total value of $274,060.00. Following the completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $811,217.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David C. Bernstein sold 12,382 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $140.00, for a total transaction of $1,733,480.00. Following the completion of the sale, the chief accounting officer now directly owns 50,171 shares of the company’s stock, valued at approximately $7,023,940. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,719,363 shares of company stock worth $216,009,764. 32.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently made changes to their positions in ABNB. Wellesley Asset Management acquired a new stake in shares of Airbnb during the 1st quarter worth about $121,000. American National Bank boosted its stake in Airbnb by 886.7% during the 4th quarter. American National Bank now owns 296 shares of the company’s stock worth $25,000 after acquiring an additional 266 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Airbnb by 96.2% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 357 shares of the company’s stock worth $37,000 after acquiring an additional 175 shares during the last quarter. Psagot Value Holdings Ltd. Israel bought a new position in Airbnb during the 3rd quarter worth approximately $38,000. Finally, Mine & Arao Wealth Creation & Management LLC. boosted its stake in Airbnb by 65.8% during the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 378 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the last quarter. 39.02% of the stock is owned by institutional investors.

Airbnb Price Performance

NASDAQ ABNB opened at $116.36 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $113.48 and a 200 day simple moving average of $107.36. The company has a market cap of $74.53 billion, a P/E ratio of 41.56, a P/E/G ratio of 1.88 and a beta of 1.15. Airbnb has a 1 year low of $81.91 and a 1 year high of $179.09.

Airbnb (NASDAQ:ABNB – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.21. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.86 billion. Airbnb had a net margin of 22.54% and a return on equity of 35.92%. Airbnb’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. On average, sell-side analysts predict that Airbnb will post 3.38 EPS for the current year.

Airbnb Company Profile

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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.