Airbnb (NASDAQ:ABNB) Given New $101.00 Price Target at Cantor Fitzgerald

Airbnb (NASDAQ:ABNB) had its price objective lowered by investment analysts at Cantor Fitzgerald from $130.00 to $101.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has an “underweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential downside of 10.38% from the company’s previous close.

Several other research firms also recently commented on ABNB. DA Davidson boosted their price target on shares of Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Barclays upped their price target on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, February 14th. Truist Financial cut their target price on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Wedbush reiterated an “outperform” rating and set a $155.00 price target on shares of Airbnb in a report on Tuesday, February 4th. Finally, Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $146.94.

Airbnb Trading Up 0.1 %

ABNB opened at $112.70 on Wednesday. Airbnb has a 52 week low of $99.88 and a 52 week high of $166.74. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $129.62 and a 200-day simple moving average of $132.40. The firm has a market cap of $71.06 billion, a P/E ratio of 27.29, a P/E/G ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last announced its earnings results 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 expect that Airbnb will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the sale, the director now directly owns 2,294,870 shares of the company’s stock, valued at $249,590,061.20. This trade represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $135.47, for a total transaction of $94,829.00. Following the completion of the transaction, the chief technology officer now directly owns 183,314 shares in the company, valued at $24,833,547.58. This represents 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 2,037,307 shares of company stock worth $280,842,374. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $433,374,000. Clearbridge Investments LLC increased its holdings in shares of Airbnb by 147.3% in the 4th 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 in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. boosted its holdings in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after buying an additional 1,185,892 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock valued at $179,991,000 after acquiring an additional 820,887 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.