Airbnb (NASDAQ:ABNB) Cut to Hold at HSBC

Airbnb (NASDAQ:ABNB) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Briefing.com reports. They presently have a $156.00 price target on the stock, down from their previous price target of $160.00. HSBC’s price objective would suggest a potential upside of 5.39% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada raised their target price on Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Piper Sandler reiterated a “neutral” rating and set a $155.00 target price (up from $145.00) on shares of Airbnb in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. UBS Group raised their price objective on Airbnb from $143.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, B. Riley Financial initiated coverage on Airbnb in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $150.16.

Airbnb Trading Down 6.3 %

NASDAQ ABNB traded down $9.88 during trading hours on Thursday, hitting $148.02. 5,804,844 shares of the company’s stock were exchanged, compared to its average volume of 4,463,504. The business’s 50 day moving average is $161.68 and its 200-day moving average is $145.50. Airbnb has a 12-month low of $103.55 and a 12-month high of $170.10. The firm has a market capitalization of $95.78 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, analysts anticipate that Airbnb will post 4.47 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 78,682 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares of the company’s stock, valued at approximately $24,435,238.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $161.02, for a total value of $96,612.00. Following the transaction, the chief technology officer now directly owns 220,504 shares in the company, valued at approximately $35,505,554.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the transaction, the chief technology officer now owns 144,331 shares in the company, valued at approximately $24,435,238.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 396,874 shares of company stock valued at $63,712,671. Corporate insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Norges Bank purchased a new position in Airbnb in the fourth quarter valued at about $619,584,000. Jennison Associates LLC grew its stake in Airbnb by 57.9% in the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Edgewood Management LLC grew its stake in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in Airbnb in the third quarter valued at about $235,338,000. Hedge funds and other institutional investors 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.