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

Airbnb, Inc. (NASDAQ:ABNBGet Free Report) hit a new 52-week high on Tuesday . The company traded as high as $144.90 and last traded at $145.26, with a volume of 197143 shares trading hands. The stock had previously closed at $143.59.

Key Airbnb News

Here are the key news stories impacting Airbnb this week:

Analysts Set New Price Targets

ABNB has been the subject of a number of research reports. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Airbnb in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, January 21st. Benchmark lowered their target price on Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Citizens Jmp raised Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Wednesday, February 4th. Finally, DA Davidson lowered their target price on Airbnb from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $149.40.

Get Our Latest Report on Airbnb

Airbnb Stock Performance

The stock has a market capitalization of $87.40 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 1.72 and a beta of 1.15. The company has a 50 day moving average of $129.35 and a 200 day moving average of $127.76.

Airbnb (NASDAQ:ABNBGet Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $126.16, for a total transaction of $7,317,280.00. Following the completion of the sale, the director directly owned 170,015 shares of the company’s stock, valued at $21,449,092.40. The trade was a 25.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nathan Blecharczyk sold 4,260 shares of Airbnb stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $125.29, for a total value of $533,735.40. Following the sale, the insider directly owned 49,250 shares of the company’s stock, valued at $6,170,532.50. This trade represents a 7.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 363,510 shares of company stock valued at $46,447,668 in the last ninety days. Insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several institutional investors and hedge funds have recently made changes to their positions in the company. Patton Fund Management Inc. lifted its holdings in shares of Airbnb by 4.3% in the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock valued at $254,000 after purchasing an additional 77 shares during the last quarter. BOKF NA lifted its holdings in shares of Airbnb by 11.0% in the 4th quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after purchasing an additional 78 shares during the last quarter. Yoder Wealth Management Inc. lifted its holdings in shares of Airbnb by 0.3% in the 4th quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock valued at $3,582,000 after purchasing an additional 84 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Airbnb by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after purchasing an additional 86 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Airbnb by 4.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,226 shares of the company’s stock valued at $270,000 after purchasing an additional 87 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

About Airbnb

(Get Free Report)

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.

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