Barclays Boosts Airbnb (NASDAQ:ABNB) Price Target to $110.00

Airbnb (NASDAQ:ABNB) had its price objective raised by equities research analysts at Barclays from $100.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 18.28% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Raymond James initiated coverage on shares of Airbnb in a research report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective for the company. Truist Financial lowered their price target on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research note on Friday. Jefferies Financial Group increased their target price on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Wedbush boosted their price target on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $139.26.

Airbnb Stock Down 8.7 %

Shares of NASDAQ:ABNB opened at $134.61 on Friday. The stock has a 50-day simple moving average of $129.14 and a 200-day simple moving average of $137.72. The stock has a market capitalization of $86.37 billion, a P/E ratio of 18.31, a PEG ratio of 1.99 and a beta of 1.15. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the completion of the transaction, the chief technology officer now directly owns 192,244 shares in the company, valued at $26,016,380.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Airbnb by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after acquiring an additional 791,149 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the period. Legal & General Group Plc increased its stake in Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after purchasing an additional 153,784 shares in the last quarter. MKA Charitable Fund raised its holdings in Airbnb by 17.2% during the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after buying an additional 296,153 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in Airbnb by 0.6% during the first quarter. Clearbridge Investments LLC now owns 2,001,711 shares of the company’s stock valued at $330,202,000 after buying an additional 12,200 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.