Airbnb (NASDAQ:ABNB – Get Free Report) had its price target lifted by analysts at Morgan Stanley from $115.00 to $125.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 2.70% from the stock’s previous close.
A number of other brokerages have also recently commented on ABNB. Truist Financial cut their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. 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 research note on Friday, November 8th. Sanford C. Bernstein decreased their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. TD Cowen raised their price target on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Raymond James began coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective for the company. 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’s stock. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $139.32.
Get Our Latest Research Report on Airbnb
Airbnb Stock Down 0.9 %
Airbnb (NASDAQ:ABNB – Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm posted $2.39 EPS. As a group, equities analysts forecast that Airbnb will post 3.99 EPS for the current year.
Insider Buying and Selling at Airbnb
In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $133.51, for a total value of $80,106.00. Following the completion of the transaction, the chief technology officer now owns 193,444 shares in the company, valued at $25,826,708.44. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now owns 164,850 shares in the company, valued at $21,466,767. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 916,597 shares of company stock valued at $122,880,766 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.
Institutional Trading of Airbnb
Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in Airbnb by 10.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 920,842 shares of the company’s stock valued at $139,627,000 after purchasing an additional 89,978 shares during the period. J.W. Cole Advisors Inc. lifted its position in Airbnb by 52.9% in the second quarter. J.W. Cole Advisors Inc. now owns 2,466 shares of the company’s stock worth $374,000 after purchasing an additional 853 shares during the period. Plato Investment Management Ltd boosted its stake in Airbnb by 2.7% during the 2nd quarter. Plato Investment Management Ltd now owns 13,493 shares of the company’s stock valued at $2,046,000 after purchasing an additional 358 shares in the last quarter. Angeles Investment Advisors LLC boosted its stake in Airbnb by 13.6% during the 2nd quarter. Angeles Investment Advisors LLC now owns 2,176 shares of the company’s stock valued at $330,000 after purchasing an additional 260 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Airbnb by 13.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 788,487 shares of the company’s stock valued at $119,558,000 after purchasing an additional 90,788 shares during the period. 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.
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