Airbnb (NASDAQ:ABNB) Price Target Lowered to $101.00 at Cantor Fitzgerald

Airbnb (NASDAQ:ABNB) had its target price reduced by Cantor Fitzgerald from $130.00 to $101.00 in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have an underweight rating on the stock.

ABNB has been the subject of a number of other reports. Susquehanna increased their target price on shares of Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Wells Fargo & Company reduced their target price on Airbnb from $134.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, April 7th. Gordon Haskett raised Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target for the company in a research note on Friday, February 14th. Finally, Baird R W raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.78.

Airbnb Price Performance

ABNB opened at $112.64 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The stock’s 50 day simple moving average is $130.07 and its 200 day simple moving average is $132.49. The firm has a market cap of $71.02 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 3.52 and a beta of 1.15. Airbnb has a 1 year low of $99.88 and a 1 year high of $166.74.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share 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%. As a group, analysts predict that Airbnb will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 230,772 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the transaction, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $135.47, for a total value of $94,829.00. Following the completion of the transaction, the chief technology officer now owns 183,314 shares in the company, valued at approximately $24,833,547.58. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,036,607 shares of company stock worth $280,762,098. Company insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC grew its position in Airbnb by 6.8% during the first quarter. Opal Wealth Advisors LLC now owns 1,634 shares of the company’s stock valued at $195,000 after buying an additional 104 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Airbnb by 39.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock worth $8,750,000 after acquiring an additional 20,753 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Airbnb by 152.2% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 5,838 shares of the company’s stock valued at $697,000 after acquiring an additional 3,523 shares during the period. Baker Chad R purchased a new stake in shares of Airbnb in the 1st quarter worth $2,862,000. Finally, Polianta Ltd bought a new position in Airbnb in the 1st quarter worth $1,087,000. 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.