Airbnb (NASDAQ:ABNB) Shares Gap Down Following Analyst Downgrade

Airbnb, Inc. (NASDAQ:ABNB) gapped down before the market opened on Thursday after TD Cowen lowered their price target on the stock from $180.00 to $170.00. The stock had previously closed at $157.90, but opened at $146.60. TD Cowen currently has a buy rating on the stock. Airbnb shares last traded at $147.07, with a volume of 3,344,768 shares changing hands.

Several other analysts have also weighed in on ABNB. Piper Sandler Companies upped their price objective on Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial raised their target price on shares of Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Bank of America upped their price target on Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Benchmark initiated coverage on Airbnb in a research note on Thursday, April 11th. They set a “buy” rating and a $190.00 price objective for the company. Finally, UBS Group boosted their target price on Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $151.55.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the sale, the chief technology officer now directly owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Brian Chesky sold 76,912 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the completion of the sale, the chief executive officer now directly owns 14,545,529 shares of the company’s stock, valued at approximately $2,149,683,730.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the transaction, the chief technology officer now directly owns 146,131 shares in the company, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Insiders sold a total of 396,874 shares of company stock worth $63,712,671 in the last quarter. 27.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently made changes to their positions in ABNB. Compagnie Lombard Odier SCmA boosted its stake in shares of Airbnb by 34.7% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock worth $4,304,000 after buying an additional 8,140 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Airbnb by 4.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after purchasing an additional 333 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Airbnb by 27.5% in the 4th quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock valued at $172,742,000 after buying an additional 273,191 shares during the last quarter. LGT Group Foundation increased its holdings in Airbnb by 8.1% during the third quarter. LGT Group Foundation now owns 316,545 shares of the company’s stock worth $43,227,000 after buying an additional 23,716 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Airbnb by 14.4% in the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after acquiring an additional 12,008 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Trading Down 6.7 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The business’s 50-day moving average price is $161.68 and its 200 day moving average price is $145.50. The company has a market cap of $95.37 billion, a P/E ratio of 20.36, a P/E/G ratio of 2.12 and a beta of 1.24.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business earned $0.18 EPS. Airbnb’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, analysts expect that Airbnb, Inc. will post 4.47 earnings per share for the current year.

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.