Wells Fargo & Company Lowers Airbnb (NASDAQ:ABNB) Price Target to $96.00

Airbnb (NASDAQ:ABNB) had its price target reduced by Wells Fargo & Company from $100.00 to $96.00 in a report issued on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages also recently commented on ABNB. JPMorgan Chase & Co. increased their price objective on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. 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 report on Wednesday, December 18th. JMP Securities restated a “market perform” rating on shares of Airbnb in a report on Monday, December 16th. Finally, Robert W. Baird lifted their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $139.63.

Airbnb Trading Down 0.3 %

ABNB opened at $132.16 on Thursday. The company has a 50-day simple moving average of $134.45 and a 200 day simple moving average of $132.22. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $83.79 billion, a price-to-earnings ratio of 46.37, a P/E/G ratio of 1.63 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period last year, the business earned $2.39 earnings per share. Analysts predict that Airbnb will post 3.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total value of $27,632,050.75. Following the completion of the sale, the director now directly owns 1,071,430 shares of the company’s stock, valued at $138,160,898.50. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,982 shares of company stock worth $150,523,585 in the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of Airbnb in the third quarter valued at approximately $25,000. Hollencrest Capital Management boosted its holdings 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. Ashton Thomas Securities LLC purchased a new stake in Airbnb during the third quarter worth about $30,000. Quarry LP bought a new stake in Airbnb in the third quarter worth about $55,000. Finally, CVA Family Office LLC boosted its stake in Airbnb by 131.2% in the third quarter. CVA Family Office LLC now owns 474 shares of the company’s stock valued at $60,000 after acquiring an additional 269 shares during the last quarter. 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.