Wells Fargo & Company Has Lowered Expectations for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its target price decreased by Wells Fargo & Company from $134.00 to $100.00 in a research report sent to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other analysts also recently commented on ABNB. DA Davidson raised their price objective on Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Benchmark raised their price target on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. HSBC raised Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Airbnb in a research note on Tuesday, February 4th. Finally, Robert W. Baird reduced their price target on shares of Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $147.41.

Airbnb Stock Performance

Shares of ABNB stock opened at $106.30 on Monday. The stock has a 50-day moving average of $133.30 and a 200-day moving average of $133.58. Airbnb has a one year low of $99.88 and a one year high of $166.74. The stock has a market cap of $67.03 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, sell-side analysts expect that Airbnb will post 4.31 earnings per share for the current year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 183,078 shares of Airbnb stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at approximately $26,046,300. The trade was a 52.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 184,014 shares in the company, valued at $23,888,697.48. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,030,357 shares of company stock valued at $284,351,868. 27.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in shares of Airbnb by 4.0% during the 3rd quarter. Janus Henderson Group PLC now owns 54,131 shares of the company’s stock worth $6,866,000 after buying an additional 2,100 shares during the last quarter. Quarry LP bought a new position in Airbnb in the 3rd quarter valued at about $55,000. National Bank of Canada FI lifted its position in Airbnb by 75.0% during the third quarter. National Bank of Canada FI now owns 359,800 shares of the company’s stock worth $45,626,000 after acquiring an additional 154,193 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Airbnb during the third quarter worth approximately $592,000. Finally, MML Investors Services LLC boosted its holdings in shares of Airbnb by 26.0% during the third quarter. MML Investors Services LLC now owns 66,100 shares of the company’s stock worth $8,382,000 after acquiring an additional 13,635 shares during the period. 80.76% of the stock is owned by institutional investors.

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.