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 8.51% to 21.43 million shares with purchase of 1.68 million shares. This fresh investment now brings its stake to 5.37% valued currently at $2.29 billion. In addition, Capital Research & Management Co raised its holdings by 1.66 million to 18.33 million shares. And BlackRock Fund Advisors has lifted its position by 5.40% or 0.58 million shares – to 11.3 million shares.
With over 5.94 million Airbnb Inc. (ABNB) shares trading Tuesday and a closing price of $95.28 on the day, the dollar volume was approximately $566.35 million. The shares have shown a negative half year performance of -10.32% and its price on 11/22/22 lost nearly -0.45%. Currently, there are 638.70M common shares owned by the public and among those 383.22M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 39 analysts who have offered their price forecasts for ABNB have a consensus price objective of $128.52. The analysts have set the share’s price value over the next 12 months at a high of $175.00 and a low of $98.00. The average price target is 28.36% above its recent price level and an upside to the estimated low will see the stock gain 2.78% over that period. But an upside of 45.55% will see the stock hit the forecast high price target while median target price for the stock is $125.00.
Insiders at the company have transacted a total of 460 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 99 of these insider trades were purchases, accounting for 176,002,833 shares. Insider sales of the common stock occurred on 361 occasions, with total insider shares sold totaling 182,398,937 shares.
The top 3 mutual fund holders in Airbnb Inc. are American Funds Growth Fund of Ame, Vanguard Total Stock Market Index, and Invesco QQQ Trust. American Funds Growth Fund of Ame owns 16.05 million shares of the company’s stock, all valued at over $1.72 billion. The company bought an additional 0.88 million shares recently to bring their total holdings to about 4.02% of the shares outstanding. Vanguard Total Stock Market Index bought 58093.0 shares to see its total holdings expand to 10.78 million shares valued at over $1.15 billion and representing 2.70% of the shares outstanding. Invesco QQQ Trust sold 5300.0 shares to bring its total holdings to over 5.78 million shares at a value of $617.9 million. Invesco QQQ Trust now owns shares totaling to 1.45% of the shares outstanding.
Shares of Airbnb Inc. (NASDAQ: ABNB) opened at $93.53, down -$2.18 from a prior closing price of $95.71. However, the script later moved the day high at 95.37, down -0.45%. The company’s stock has a 5-day price change of -10.96% and -16.79% over the past three months. ABNB shares are trading -42.77% year to date (YTD), with the 12-month market performance down to -47.57% lower. It has a 12-month low price of $86.71 and touched a high of $191.73 over the same period. ABNB has an average intraday trading volume of 6.12 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 -7.99%, -12.66%, and -24.21% respectively.
Institutional ownership of Airbnb Inc. (NASDAQ: ABNB) shares accounts for 64.30% of the company’s 638.70M shares outstanding. Mutual fund holders own 35.47%, while other institutional holders and individual stakeholders account for 8.95% and 27.92% respectively.
It has a market capitalization of $61.27B. The stock’s trailing 12-month PE ratio is 39.75, while the earnings-per-share (ttm) stands at $2.40. The company has a PEG of 1.98 and a Quick Ratio of 1.90 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.50% over the week and 4.91% over the month.
Analysts forecast that Airbnb Inc. (ABNB) will achieve an EPS of $1.46 for the current quarter, $0.2 for the next quarter and $2.58 for 2023. The lowest estimate earnings-per-share for the quarter is $1.14 while analysts give the company a high EPS estimate of $1.67. Comparatively, EPS for the current quarter was $1.22 a year ago. Earnings per share for the fiscal year are expected to increase by 92.40%, and 8.39% over the next financial year. EPS should grow at an annualized rate of 20.10% over the next five years, compared to -7.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 39 brokerage firm advisors rate Airbnb Inc. (ABNB) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 20 of the 39 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the ABNB, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on November 22, 2022, with the firm’s price target at $120-$100. Bernstein coverage for the Airbnb Inc. (ABNB) stock in a research note released on October 05, 2022 offered a Outperform rating with a price target of $143. Wolfe Research on their part issued Peer Perform rating on June 15, 2022.