Airbnb (NASDAQ:ABNB) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Airbnb (NASDAQ:ABNB) from a buy rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on ABNB. Truist Financial raised their price objective on Airbnb from $134.00 to $161.00 and gave the stock a “hold” rating in a research report on Thursday, September 10th. Raymond James Financial upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Tuesday, September 8th. Piper Sandler set a $150.00 target price on shares of Airbnb in a research report on Friday, August 7th. Benchmark raised their price target on shares of Airbnb from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Airbnb in a research report on Monday, August 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.97.

Airbnb Price Performance

ABNB stock opened at $160.39 on Friday. The company has a market capitalization of $96.04 billion, a P/E ratio of 36.45, a PEG ratio of 1.88 and a beta of 1.24. The company has a fifty day moving average price of $170.98 and a 200-day moving average price of $149.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb has a 52-week low of $110.81 and a 52-week high of $193.45.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company earned $1.03 EPS. Airbnb’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, equities analysts expect that Airbnb will post 5.28 EPS for the current year.

Insider Activity

In other Airbnb news, CAO David C. Bernstein sold 1,489 shares of Airbnb stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.93, for a total value of $251,536.77. Following the completion of the sale, the chief accounting officer directly owned 47,024 shares in the company, valued at approximately $7,943,764.32. The trade was a 3.07% 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, insider Nathan Blecharczyk sold 13,615 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $156.82, for a total value of $2,135,104.30. Following the completion of the transaction, the insider directly owned 20,567 shares in the company, valued at approximately $3,225,316.94. This trade represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,549,346 shares of company stock worth $268,898,016. 27.21% of the stock is owned by corporate insiders.

Institutional Trading of Airbnb

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in shares of Airbnb by 7.0% in the 3rd quarter. Versant Capital Management Inc now owns 6,475 shares of the company’s stock valued at $1,040,000 after acquiring an additional 426 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Airbnb by 7.7% during the second quarter. QRG Capital Management Inc. now owns 27,311 shares of the company’s stock worth $3,908,000 after acquiring an additional 1,959 shares in the last quarter. Andra AP fonden boosted its stake in Airbnb by 63.7% during the second quarter. Andra AP fonden now owns 165,430 shares of the company’s stock worth $23,673,000 after acquiring an additional 64,400 shares in the last quarter. Anchor Investment Management LLC grew its holdings in Airbnb by 1,236.7% in the second quarter. Anchor Investment Management LLC now owns 401 shares of the company’s stock worth $57,000 after purchasing an additional 371 shares during the period. Finally, Reynders McVeigh Capital Management LLC grew its holdings in Airbnb by 1.0% in the second quarter. Reynders McVeigh Capital Management LLC now owns 149,240 shares of the company’s stock worth $21,356,000 after purchasing an additional 1,492 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel-related experiences with hosts offering homes, apartments, rooms and other lodging options. The company’s platform supports booking and managing stays in a wide range of destinations, from major cities to rural and resort areas.

In addition to accommodations, Airbnb offers experiences hosted by local residents, including activities, tours and cultural events. The company has also expanded its platform to include services in select markets, such as offerings related to hospitality, wellness, food and other travel needs.