Airbnb (NASDAQ:ABNB) Shares Gap Up on Better-Than-Expected Earnings

Airbnb, Inc. (NASDAQ:ABNB) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $141.04, but opened at $158.19. Airbnb shares last traded at $161.51, with a volume of 8,103,185 shares changing hands.

The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Airbnb in a report on Friday. Evercore ISI raised their target price on shares of Airbnb to $155.00 and gave the stock a “hold” rating in a report on Wednesday, January 15th. Wells Fargo & Company cut their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $140.00 to $175.00 in a report on Friday. Finally, Susquehanna lifted their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $144.91.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $128.15, for a total value of $89,705.00. Following the completion of the sale, the chief technology officer now directly owns 182,614 shares in the company, valued at approximately $23,401,984.10. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the sale, the director now owns 10,321 shares of the company’s stock, valued at $1,352,876.68. The trade was a 95.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,417,704 shares of company stock worth $187,654,829. 27.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Several large investors have recently bought and sold shares of the business. CAP Partners LLC grew its stake in shares of Airbnb by 3.6% during the 4th 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 grew 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 valued at $728,000 after purchasing an additional 78 shares during the period. Manchester Capital Management LLC grew its stake in shares of Airbnb by 18.2% during the 4th quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after purchasing an additional 81 shares during the period. Salvus Wealth Management LLC grew its stake in shares of Airbnb by 2.5% during the 4th quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after purchasing an additional 84 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Airbnb by 7.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock valued at $176,000 after purchasing an additional 90 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Up 14.9 %

The stock has a 50 day simple moving average of $133.00 and a 200-day simple moving average of $130.02. The firm has a market capitalization of $102.74 billion, a P/E ratio of 56.66, a P/E/G ratio of 1.88 and a beta of 1.12. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb Company Profile

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.