The Vanguard Group, Inc. recently announced the acquisition of new stake in Airbnb Inc (NASDAQ:ABNB). The institutional investor has increased its shareholding in the Consumer Cyclical company by 41.06% to 32.48 million shares with purchase of 9.45 million shares. This fresh investment now brings its stake to 7.62% valued currently at $3.84 billion. In addition, BlackRock Fund Advisors raised its holdings by 4.98 million to 17.7 million shares. And SSgA Funds Management, Inc. has lifted its position by 90.33% or 7.64 million shares – to 16.09 million shares.
With over 4.01 million Airbnb Inc (ABNB) shares trading Tuesday and a closing price of $127.56 on the day, the dollar volume was approximately $511.39 million. The shares have shown a positive half year performance of 19.00% and its price on 11/28/23 lost nearly -1.12%. Currently, there are 640.05M common shares owned by the public and among those 411.56M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for ABNB have a consensus price objective of $133.65. The analysts have set the share’s price value over the next 12 months at a high of $175.00 and a low of $75.00. The average price target is 4.56% above its recent price level and a downside to the estimated low will see the stock lose -70.08% over that period. But an upside of 27.11% will see the stock hit the forecast high price target while median target price for the stock is $135.00.
Insiders at the company have transacted a total of 273 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 517,533 shares. Insider sales of the common stock occurred on 241 occasions, with total insider shares sold totaling 10,569,925 shares.
The top 3 mutual fund holders in Airbnb Inc are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. American Funds Growth Fund of Ame owns 21.35 million shares of the company’s stock, all valued at over $2.52 billion. The company sold -0.87 million shares recently to bring their total holdings to about 5.01% of the shares outstanding. Vanguard Total Stock Market ETF bought 65352.0 shares to see its total holdings expand to 12.68 million shares valued at over $1.5 billion and representing 2.97% of the shares outstanding. Vanguard 500 Index Fund bought 45203.0 shares to bring its total holdings to over 10.31 million shares at a value of $1.22 billion. Vanguard 500 Index Fund now owns shares totaling to 2.42% of the shares outstanding.
Shares of Airbnb Inc (NASDAQ: ABNB) opened at $128.79, down -$0.21 from a prior closing price of $129.00. However, the script later moved the day high at 129.54, down -1.12%. The company’s stock has a 5-day price change of -1.65% and -3.55% over the past three months. ABNB shares are trading 49.19% year to date (YTD), with the 12-month market performance up to 30.60% higher. It has a 12-month low price of $81.91 and touched a high of $154.95 over the same period. ABNB has an average intraday trading volume of 6.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.96%, 1.27%, and 1.39% respectively.
Institutional ownership of Airbnb Inc (NASDAQ: ABNB) shares accounts for 51.88% of the company’s 640.05M shares outstanding. Mutual fund holders own 47.45%, while other institutional holders and individual stakeholders account for 9.39% and 30.60% respectively.
It has a market capitalization of $81.64B and a beta (3y monthly) value of 1.25. The stock’s trailing 12-month PE ratio is 15.45, while the earnings-per-share (ttm) stands at $8.26. The company has a PEG of 0.70 and a Quick Ratio of 1.78 with the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.41% over the week and 3.47% over the month.
Analysts forecast that Airbnb Inc (ABNB) will achieve an EPS of $0.65 for the current quarter, $0.23 for the next quarter and $4.43 for 2024. The lowest estimate earnings-per-share for the quarter is $0.45 while analysts give the company a high EPS estimate of $0.84. Comparatively, EPS for the current quarter was $0.48 a year ago. Earnings per share for the fiscal year are expected to increase by 182.30%, and -44.87% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate Airbnb Inc (ABNB) as a “Moderate Buy” at a consensus score of 2.59. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 22 of the 41 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the ABNB, a number of firms have released research notes about the stock. Evercore ISI stated their In-line rating for the stock in a research note on November 17, 2023, with the firm’s price target at $136.
