Phillip Securities Reaffirms Reduce Rating for Airbnb (NASDAQ:ABNB)

Phillip Securities reissued their reduce rating on shares of Airbnb (NASDAQ:ABNB) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $120.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen raised their price target on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Susquehanna lifted their target price on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday. Raymond James initiated coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Finally, Bank of America reaffirmed a “hold” rating and set a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Six research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $139.31.

Airbnb Trading Down 3.1 %

Shares of Airbnb stock opened at $133.20 on Tuesday. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day moving average price of $129.54 and a 200 day moving average price of $137.20. The company has a market capitalization of $85.46 billion, a P/E ratio of 46.74, a P/E/G ratio of 1.90 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 33.36% and a net margin of 16.96%. During the same period last year, the firm earned $2.39 earnings per share. Sell-side analysts anticipate that Airbnb will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the sale, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock worth $51,809,831 in the last three months. 27.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb during the 1st quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb during the third quarter worth $25,000. Hollencrest Capital Management lifted its position in shares of Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Airbnb in the 2nd quarter worth about $28,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Airbnb in the 2nd quarter valued at about $30,000. 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.