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 on Tuesday,Benzinga reports. They currently have a $120.00 price objective on the stock. Phillip Securities’ price objective points to a potential downside of 12.66% from the stock’s previous close.

A number of other research analysts have also recently weighed in on ABNB. Piper Sandler lifted their price objective on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday. Robert W. Baird upped their price objective on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets decreased their price target on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Citigroup increased their price objective on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. Finally, Mizuho dropped their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $139.31.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $137.40 on Tuesday. The company has a market capitalization of $88.16 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.90 and a beta of 1.15. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The firm’s 50-day moving average is $129.54 and its 200 day moving average is $137.20. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 33.36%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the business posted $2.39 earnings per share. Research analysts predict that Airbnb will post 4.07 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Joseph Gebbia sold 11,635 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock valued at $51,809,831 over the last three months. 27.83% of the stock is currently owned by insiders.

Institutional Trading of Airbnb

Institutional investors have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock worth $1,694,000 after buying an additional 5,962 shares in the last quarter. NorthRock Partners LLC bought a new position in shares of Airbnb during the 1st quarter worth about $210,000. Avantax Advisory Services Inc. lifted its holdings in shares of Airbnb by 19.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,416 shares of the company’s stock worth $728,000 after acquiring an additional 732 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Airbnb by 12.0% during the 1st quarter. Bleakley Financial Group LLC now owns 8,250 shares of the company’s stock valued at $1,361,000 after acquiring an additional 886 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Airbnb in the first quarter valued at about $235,000. 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.