Wells Fargo & Company Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB - Get Free Report) had its target price cut by Wells Fargo & Company from $134.00 to $100.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 12.69% from the company's current price.

ABNB has been the subject of several other research reports. JMP Securities restated a "market perform" rating on shares of Airbnb in a research report on Friday, February 14th. Gordon Haskett raised shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price target for the company in a research report on Friday, February 14th. Bank of America raised their price objective on Airbnb from $154.00 to $159.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Argus upgraded Airbnb from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their target price on Airbnb from $123.00 to $112.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $146.56.

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Airbnb Stock Up 0.6 %

NASDAQ:ABNB traded up $0.63 during trading hours on Monday, hitting $114.54. The company's stock had a trading volume of 4,817,277 shares, compared to its average volume of 4,746,765. Airbnb has a 52-week low of $99.88 and a 52-week 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. The stock has a market capitalization of $72.22 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. The stock has a fifty day moving average of $131.21 and a 200-day moving average of $132.84.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data 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 return on equity of 32.29% and a net margin of 23.85%. On average, equities analysts forecast that Airbnb will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 700 shares of the company's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $129.82, for a total value of $90,874.00. Following the sale, the chief technology officer now directly owns 184,014 shares in the company, valued at $23,888,697.48. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total value of $5,122,620.59. Following the sale, the chief executive officer now owns 12,460,447 shares of the company's stock, valued at approximately $1,659,606,935.93. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,251,592 shares of company stock valued at $308,485,023 over the last quarter. Corporate insiders own 27.83% of the company's stock.

Hedge Funds Weigh In On Airbnb

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Airbnb by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after acquiring an additional 72,991 shares during the last quarter. Clearbridge Investments LLC increased its stake in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Northern Trust Corp lifted its position in Airbnb by 8.4% during the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after buying an additional 331,607 shares during the period. Renaissance Technologies LLC boosted its stake in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after buying an additional 558,856 shares during the last quarter. Finally, Norges Bank acquired a new stake in Airbnb in the 4th quarter worth about $433,374,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Company Profile

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.