Benchmark Reaffirms “Buy” Rating for Airbnb (NASDAQ:ABNB)

Airbnb (NASDAQ:ABNB)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a report issued on Friday,Benzinga reports. They presently have a $155.00 price objective on the stock. Benchmark’s target price would suggest a potential upside of 15.15% from the company’s previous close.

Several other analysts have also recently weighed in on ABNB. Royal Bank of Canada lowered their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “underweight” rating and set a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. Jefferies Financial Group upped their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Argus cut Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.26.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $134.61 on Friday. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market cap of $86.37 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.99 and a beta of 1.15. The company has a 50 day moving average of $129.14 and a 200 day moving average of $137.72.

Insider Buying and Selling

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

Institutional Investors Weigh In On Airbnb

Several institutional investors have recently made changes to their positions in ABNB. Csenge Advisory Group purchased a new position in Airbnb in the 1st quarter worth about $303,000. Empirical Finance LLC bought a new stake in Airbnb during the 1st quarter valued at $339,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Airbnb by 45.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,021 shares of the company’s stock worth $4,127,000 after buying an additional 7,849 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after buying an additional 5,962 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Airbnb by 12.6% in the first quarter. Oppenheimer & Co. Inc. now owns 29,375 shares of the company’s stock valued at $4,846,000 after acquiring an additional 3,278 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Company Profile

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.