Airbnb (NASDAQ:ABNB) Receives “Reduce” Rating from Phillip Securities

Phillip Securities reaffirmed their reduce rating on shares of Airbnb (NASDAQ:ABNB) in a research report sent to investors on Tuesday,Benzinga reports. Phillip Securities currently has a $120.00 price target on the stock.

A number of other brokerages have also recently commented on ABNB. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Robert W. Baird lifted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Finally, Wedbush lifted their price target on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $139.31.

Airbnb Stock Down 1.5 %

ABNB opened at $132.50 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a market capitalization of $85.01 billion, a PE ratio of 46.49, a PEG ratio of 1.87 and a beta of 1.15. The firm’s 50 day simple moving average is $130.99 and its two-hundred day simple moving average is $136.73.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the business earned $2.39 earnings per share. As a group, equities analysts forecast that Airbnb will post 4.04 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This trade represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 of the company’s stock, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,806 shares of company stock valued at $51,809,831 over the last 90 days. 27.83% of the stock is owned by company insiders.

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC acquired a new stake in Airbnb during the first quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the 3rd quarter worth $25,000. Hollencrest Capital Management boosted its position in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Airbnb during the 2nd quarter worth $28,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Airbnb during the 2nd quarter worth $30,000. Institutional investors and hedge funds 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.