The Goldman Sachs Group Upgrades Airbnb (NASDAQ:ABNB) to Neutral

The Goldman Sachs Group upgraded shares of Airbnb (NASDAQ:ABNB) from a sell rating to a neutral rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $153.00 price objective on the stock, up from their prior price objective of $110.00.

A number of other research analysts have also weighed in on the stock. UBS Group boosted their target price on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Truist Financial cut their price objective on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. DA Davidson upped their price objective on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Robert W. Baird raised shares of Airbnb from a “neutral” rating to an “outperform” rating and upped their target price for the company from $140.00 to $175.00 in a research note on Friday. Finally, Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus price target of $145.79.

Airbnb Stock Up 14.4 %

ABNB stock opened at $161.42 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a fifty day simple moving average of $133.49 and a 200 day simple moving average of $130.04. The firm has a market cap of $102.34 billion, a PE ratio of 56.64, a PEG ratio of 1.88 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. Sell-side analysts anticipate that Airbnb will post 3.97 EPS for the current fiscal year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares in the company, valued at $21,466,767. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,608,005 shares of company stock worth $214,394,023 over the last quarter. Insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

A number of large investors have recently added to or reduced their stakes in ABNB. CX Institutional increased its holdings in Airbnb by 17.1% during the third quarter. CX Institutional now owns 1,679 shares of the company’s stock worth $213,000 after buying an additional 245 shares during the last quarter. Creative Planning increased its holdings in Airbnb by 44.0% during the third quarter. Creative Planning now owns 70,442 shares of the company’s stock worth $8,808,000 after buying an additional 21,518 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in Airbnb by 40.2% during the third quarter. Aaron Wealth Advisors LLC now owns 2,932 shares of the company’s stock worth $372,000 after buying an additional 840 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in Airbnb by 277.7% during the third quarter. Stratos Wealth Advisors LLC now owns 18,194 shares of the company’s stock worth $2,307,000 after buying an additional 13,377 shares during the last quarter. Finally, TriaGen Wealth Management LLC increased its holdings in Airbnb by 17.5% during the third quarter. TriaGen Wealth Management LLC now owns 16,712 shares of the company’s stock worth $2,119,000 after buying an additional 2,492 shares during the last quarter. 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.