Wells Fargo & Company Has Lowered Expectations for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its price objective reduced by stock analysts at Wells Fargo & Company from $134.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 5.91% from the stock’s current price.

A number of other equities research analysts have also commented on ABNB. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and upped their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. HSBC raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Argus raised Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Tigress Financial upped their price target on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, Evercore ISI lifted their price target on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $147.41.

Airbnb Price Performance

Shares of Airbnb stock traded down $0.38 on Monday, reaching $106.29. The stock had a trading volume of 8,114,916 shares, compared to its average volume of 4,660,417. The business’s 50 day moving average is $133.75 and its two-hundred day moving average is $133.74. The company has a market cap of $67.02 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. Airbnb has a 1 year low of $100.12 and a 1 year high of $166.74. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, research analysts anticipate that Airbnb will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the transaction, the insider now owns 164,850 shares of the company’s stock, valued at approximately $26,046,300. The trade was a 52.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $119.67, for a total transaction of $83,769.00. Following the transaction, the chief technology officer now directly owns 170,019 shares of the company’s stock, valued at $20,346,173.73. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,031,057 shares of company stock worth $284,446,613 over the last 90 days. 27.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Airbnb by 4.0% in the third quarter. Janus Henderson Group PLC now owns 54,131 shares of the company’s stock worth $6,866,000 after purchasing an additional 2,100 shares during the period. Quarry LP purchased a new position in Airbnb in the 3rd quarter worth about $55,000. National Bank of Canada FI lifted its holdings in Airbnb by 75.0% during the 3rd quarter. National Bank of Canada FI now owns 359,800 shares of the company’s stock valued at $45,626,000 after buying an additional 154,193 shares in the last quarter. XTX Topco Ltd purchased a new stake in Airbnb in the 3rd quarter valued at about $592,000. Finally, MML Investors Services LLC increased its position in shares of Airbnb by 26.0% during the third quarter. MML Investors Services LLC now owns 66,100 shares of the company’s stock worth $8,382,000 after acquiring an additional 13,635 shares during the period. 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.