Robert W. Baird Cuts Airbnb (NASDAQ:ABNB) Price Target to $160.00

Airbnb (NASDAQ:ABNB) had its price objective decreased by Robert W. Baird from $175.00 to $160.00 in a research note published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other analysts also recently commented on ABNB. B. Riley increased their price objective on shares of Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays raised their price target on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, February 14th. Bank of America increased their target price on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Truist Financial dropped their target price on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $147.36.

Airbnb Price Performance

Shares of ABNB opened at $125.65 on Tuesday. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $167.38. The firm’s 50-day simple moving average is $135.58 and its two-hundred day simple moving average is $133.55. The stock has a market cap of $79.23 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Analysts anticipate that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 2,712 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $156.32, for a total value of $423,939.84. Following the transaction, the insider now owns 159,337 shares of the company’s stock, valued at $24,907,559.84. This represents a 1.67 % decrease in their ownership of the stock. 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 20,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $131.87, for a total value of $2,637,400.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at $24,450,544.18. This represents a 9.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,270,894 shares of company stock worth $317,578,168. 27.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in Airbnb during the fourth quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new position in Airbnb in the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in shares of Airbnb during the fourth quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb in the 4th quarter valued at about $28,000. Finally, Graney & King LLC bought a new position in shares of Airbnb during the 4th quarter worth approximately $32,000. 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.