Airbnb (NASDAQ:ABNB) Lowered to Hold at Argus

Argus lowered shares of Airbnb (NASDAQ:ABNB) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat reports.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Airbnb from $145.00 to $121.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Wedbush decreased their price target on Airbnb from $165.00 to $135.00 and set an outperform rating on the stock in a research note on Wednesday, August 7th. DA Davidson reissued a neutral rating and set a $145.00 price target on shares of Airbnb in a research report on Thursday, May 9th. Susquehanna decreased their price objective on shares of Airbnb from $180.00 to $130.00 and set a positive rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup dropped their target price on shares of Airbnb from $170.00 to $167.00 and set a buy rating for the company in a report on Thursday, May 9th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Airbnb presently has a consensus rating of Hold and a consensus target price of $134.48.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $114.28 on Wednesday. The stock has a market cap of $73.60 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The stock’s 50-day moving average is $131.77 and its 200 day moving average is $147.02.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. On average, sell-side analysts anticipate that Airbnb will post 4.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was 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 in the company, valued at $23,579,141.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David C. Bernstein sold 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $145.50, for a total value of $291,000.00. Following the completion of the transaction, the chief accounting officer now owns 45,043 shares of the company’s stock, valued at approximately $6,553,756.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 612,907 shares of company stock valued at $91,473,471. 27.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new stake in Airbnb during the first quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in Airbnb during the fourth quarter valued at $27,000. New Millennium Group LLC purchased a new stake in Airbnb in the second quarter worth about $28,000. Vima LLC purchased a new stake in Airbnb in the fourth quarter worth about $29,000. Finally, Cultivar Capital Inc. purchased a new stake in Airbnb in the second quarter worth about $30,000. Hedge funds and other 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.