Airbnb's (ABNB) "Reduce" Rating Reaffirmed at Phillip Securities

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

Other analysts have also issued reports about the stock. Bank of America reaffirmed a "hold" rating and set a $142.00 price objective (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a research report on Wednesday, August 7th. Raymond James assumed coverage on shares of Airbnb in a report on Friday, September 27th. They issued a "market perform" rating and a $134.00 price target on the stock. Citigroup increased their target price on Airbnb from $135.00 to $158.00 and gave the stock a "buy" rating in a report on Monday. Finally, BMO Capital Markets cut their target price on Airbnb from $151.00 to $130.00 and set a "market perform" rating for the company in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $139.31.

Airbnb Price Performance

NASDAQ ABNB traded down $4.20 on Tuesday, hitting $133.20. The company had a trading volume of 6,806,472 shares, compared to its average volume of 4,510,685. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $85.46 billion, a PE ratio of 46.91, a PEG ratio of 1.90 and a beta of 1.15. The company's fifty day moving average price is $129.54 and its 200-day moving average price is $137.20. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 33.36% and a net margin of 16.96%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company posted $2.39 earnings per share. As a group, analysts predict that Airbnb will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction 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 sale, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. 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. Insiders own 27.83% of the company's stock.

Institutional Investors Weigh In On Airbnb

A number of large investors have recently modified their holdings of ABNB. Transcendent Capital Group LLC acquired a new position in shares of Airbnb in the 1st quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management lifted its holdings in shares of Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. New Millennium Group LLC purchased a new stake in Airbnb in the second quarter valued at approximately $28,000. Finally, Cultivar Capital Inc. purchased a new stake in Airbnb in the second quarter valued at approximately $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.