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

Phillip Securities reaffirmed their reduce rating on shares of Airbnb (NASDAQ:ABNB) in a report issued on Tuesday morning,Benzinga reports. They currently have a $120.00 price objective on the stock.

Other research analysts also recently issued reports about the company. TD Cowen boosted their price target on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a report on Friday, November 8th. Sanford C. Bernstein cut their price target on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, Citigroup boosted their price target on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.31.

Airbnb Trading Down 1.5 %

NASDAQ:ABNB opened at $132.50 on Tuesday. The company has a market capitalization of $85.01 billion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10. The stock has a fifty day simple moving average of $130.99 and a 200-day simple moving average of $136.73.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (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 analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period in the prior year, the business earned $2.39 earnings per share. On average, equities research analysts expect that Airbnb will post 4.04 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,806 shares of company stock valued at $51,809,831. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently bought and sold shares of ABNB. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb in the first quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the third quarter valued at approximately $25,000. Hollencrest Capital Management increased its stake in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. New Millennium Group LLC acquired a new stake in shares of Airbnb in the second quarter valued at approximately $28,000. Finally, Cultivar Capital Inc. acquired a new stake in shares of Airbnb in the second quarter valued at approximately $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.