Airbnb (NASDAQ:ABNB) Given New $96.00 Price Target at Wells Fargo & Company

Airbnb (NASDAQ:ABNB - Get Free Report) had its target price cut by analysts at Wells Fargo & Company from $100.00 to $96.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential downside of 27.36% from the company's current price.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on shares of Airbnb from $121.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Barclays lifted their target price on Airbnb from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. Jefferies Financial Group upped their target price on Airbnb from $120.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. 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. Finally, Piper Sandler lifted their price target on shares of Airbnb from $125.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $139.63.

Airbnb Stock Down 0.3 %

ABNB traded down $0.36 during trading on Thursday, hitting $132.16. 2,904,739 shares of the company's stock traded hands, compared to its average volume of 3,635,579. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The company's 50 day simple moving average is $134.45 and its two-hundred day simple moving average is $132.22. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $83.79 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 1.63 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $2.39 EPS. Analysts predict that Airbnb will post 3.99 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now directly owns 192,244 shares of the company's stock, valued at $26,016,380.52. This represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,130,982 shares of company stock worth $150,523,585. 27.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company's stock worth $537,872,000 after buying an additional 4,172,985 shares during the last quarter. Meritage Group LP purchased a new stake in Airbnb during the third quarter worth approximately $160,985,000. Edgewood Management LLC boosted its holdings in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company's stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. International Assets Investment Management LLC increased its stake in Airbnb by 19,430.3% in the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company's stock valued at $1,419,610,000 after purchasing an additional 1,113,747 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its holdings in Airbnb by 91.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company's stock worth $294,726,000 after purchasing an additional 1,109,076 shares in the last quarter. Institutional investors and hedge funds 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.