Airbnb (NASDAQ:ABNB) Earns “Reduce” Rating from Phillip Securities

Airbnb (NASDAQ:ABNB)‘s stock had its “reduce” rating reissued by equities research analysts at Phillip Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $120.00 price objective on the stock. Phillip Securities’ target price would suggest a potential downside of 9.61% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. B. Riley cut their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. Wells Fargo & Company increased their price objective on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Finally, Truist Financial reduced their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $139.31.

Airbnb Trading Down 0.3 %

ABNB stock opened at $132.76 on Tuesday. The company has a market capitalization of $85.18 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 1.88 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The business has a 50 day simple moving average of $129.90 and a two-hundred day simple moving average of $136.99.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the previous year, the business posted $2.39 earnings per share. Research analysts anticipate that Airbnb will post 4.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 417,806 shares of company stock worth $51,809,831 in the last three months. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently made changes to their positions in ABNB. Farrow Financial Inc. lifted its position in Airbnb by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after acquiring an additional 69 shares during the period. GYL Financial Synergies LLC lifted its holdings in shares of Airbnb by 5.0% during the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after purchasing an additional 76 shares during the period. HB Wealth Management LLC increased its holdings in Airbnb by 1.6% in the 2nd quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock worth $749,000 after buying an additional 76 shares during the period. Optas LLC raised its position in Airbnb by 4.5% during the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock worth $277,000 after buying an additional 78 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its holdings in shares of Airbnb by 1.1% in the 2nd quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock valued at $1,113,000 after acquiring an additional 79 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

About Airbnb

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.