Airbnb targets unusually large options trades (NASDAQ: ABNB)

Airbnb, Inc. (NASDAQ:ABNB – Get Rating) saw unusual options trading on Tuesday. Traders bought 111,711 put options on the stock. This is an increase of approximately 103% from the average volume of 55,140 puts.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 11,636 shares of the company in a trade on Thursday, October 27. The stock was sold at an average price of $113.21, for a total value of $1,317,311.56. Following the transaction, the director now owns 127,050 shares of the company, valued at $14,383,330.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other Airbnb news, CTO Aristotle N. Balogh sold 2,500 Airbnb shares in a trade that took place on Monday, August 15. The shares were sold at an average price of $123.55, for a total transaction of $308,875.00. Following the transaction, the CTO now directly owns 256,203 shares of the company, valued at approximately $31,653,880.65. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director Joseph Gebbia sold 11,636 Airbnb shares in a trade that took place on Thursday, October 27. The stock was sold at an average price of $113.21, for a total transaction of $1,317,311.56. Following the transaction, the administrator now owns 127,050 shares of the company, valued at $14,383,330.50. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 841,892 shares of the company valued at $99,989,627. Company insiders hold 32.69% of the company’s shares.

Hedge funds weigh on Airbnb

Several hedge funds and other institutional investors have recently changed their positions in the company. Truist Financial Corp increased its holdings of Airbnb shares by 6.1% during the 1st quarter. Truist Financial Corp now owns 42,043 shares of the company valued at $7,222,000 after buying an additional 2,405 shares in the last quarter. Assenagon Asset Management SA increased its stake in Airbnb shares by 34.5% during the 1st quarter. Assenagon Asset Management SA now owns 1,786 shares of the company valued at $307,000 after purchasing an additional 458 shares in the last quarter. Cerity Partners LLC increased its Airbnb equity stake by 8.1% during Q1. Cerity Partners LLC now owns 3,782 shares of the company valued at $650,000 after purchasing an additional 284 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Airbnb by 9.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 11,037 shares of the company worth $1,896,000 after acquiring 915 additional shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in Airbnb shares by 14.2% during the first quarter. Kestra Advisory Services LLC now owns 24,644 shares of the company valued at $4,233,000 after acquiring 3,059 additional shares in the last quarter. 39.45% of the shares are currently held by institutional investors and hedge funds.

Airbnb stock performance

Airbnb stock traded at $3.57 in Tuesday’s midday session, hitting $99.03. The company’s stock had a trading volume of 278,719 shares, compared to its average volume of 7,447,889. Airbnb has a 1-year low of $86.71 and a 1-year high of $212.58. The company has a debt ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The company has a 50-day moving average price of $112.03 and a two-hundred-day moving average price of $113.46. The company has a market capitalization of $64.24 billion, a price/earnings ratio of 41.39, a PEG ratio of 1.80 and a beta of 0.99.

A Wall Street analyst gives his opinion

Several equity analysts have recently commented on the stock. DA Davidson lowered its price target on Airbnb shares from $210.00 to $140.00 and set a “buy” rating on the stock in a Wednesday, August 3 report. Jefferies Financial Group lowered its price target on Airbnb shares from $140.00 to $138.00 and set a “buy” rating for the company in a Thursday, Oct. 6 report. Credit Suisse Group lowered its price target on Airbnb shares from $165.00 to $154.00 and set a “neutral” rating for the company in a Wednesday, November 2 report. KeyCorp lowered its price target on Airbnb shares from $145.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, Nov. 2, report. Finally, Canaccord Genuity Group lowered its price target on Airbnb shares from $200.00 to $175.00 and set a “buy” rating for the company in a Wednesday, Aug. 3 report. One analyst gave the stock a sell rating, seventeen gave the company a hold rating and fifteen gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $147.44.

About Airbnb

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Airbnb, Inc., together with its affiliates, operates a platform that enables hosts to provide stays and experiences to travelers around the world. The company’s marketplace model connects hosts and guests online or via mobile devices to book spaces and experiences. It mainly offers private rooms, main residences or vacation homes.

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