Airbnb (NASDAQ:ABNB) Upgraded to Buy at Argus

Argus upgraded shares of Airbnb (NASDAQ:ABNB) from a hold rating to a buy rating in a report published on Wednesday, Marketbeat Ratings reports.

ABNB has been the subject of several other research reports. Phillip Securities reissued a “reduce” rating and set a $120.00 price target on shares of Airbnb in a research report on Tuesday, November 12th. Morgan Stanley increased their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $110.00 to $153.00 in a research note on Friday, February 14th. Susquehanna increased their price objective on Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average target price of $147.00.

Airbnb Trading Down 1.7 %

Airbnb stock opened at $157.83 on Wednesday. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a market capitalization of $100.06 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The business’s fifty day simple moving average is $134.80 and its two-hundred day simple moving average is $130.65. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, equities analysts predict that Airbnb will post 4.27 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the sale, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. The trade was a 1.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the transaction, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,834,455 shares of company stock valued at $256,987,686. 27.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ABNB. Northwest Investment Counselors LLC purchased a new stake in Airbnb during the third quarter valued at $25,000. Golden State Wealth Management LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at about $25,000. Hollencrest Capital Management lifted its holdings in shares of Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Airbnb in the fourth quarter worth about $26,000. Finally, Orion Capital Management LLC bought a new stake in Airbnb during the fourth quarter worth approximately $28,000. 80.76% of the stock is currently owned by institutional investors.

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.