Airbnb (NASDAQ:ABNB) Earns “Hold (C)” Rating from Weiss Ratings

Airbnb (NASDAQ:ABNB)‘s stock had its “hold (c)” rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on ABNB. BMO Capital Markets set a $124.00 target price on Airbnb and gave the stock a “market perform” rating in a report on Thursday, August 7th. Wedbush lowered their target price on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a report on Friday, August 8th. Finally, Truist Financial decreased their price objective on Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $141.81.

Airbnb Stock Up 0.1%

ABNB opened at $120.15 on Wednesday. Airbnb has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a fifty day simple moving average of $124.54 and a 200 day simple moving average of $127.36. The stock has a market cap of $74.67 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.19 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities research analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO David C. Bernstein sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the chief accounting officer directly owned 42,619 shares in the company, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,430,876 shares of company stock worth $182,694,292 over the last three months. Company insiders own 27.91% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Airbnb by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock valued at $4,982,067,000 after purchasing an additional 183,336 shares during the last quarter. Harris Associates L P lifted its stake in Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Geode Capital Management LLC lifted its stake in Airbnb by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after purchasing an additional 145,788 shares during the last quarter. Northern Trust Corp lifted its stake in Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after purchasing an additional 106,135 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Company Profile

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.