Wells Fargo & Company Cuts Airbnb (NASDAQ:ABNB) Price Target to $100.00

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

Several other research analysts have also recently commented on ABNB. Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Tigress Financial increased their target price on Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, March 14th. Benchmark lifted their price target on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Robert W. Baird lowered their price objective on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Finally, Evercore ISI raised their target price on Airbnb to $155.00 and gave the stock a “hold” rating in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Airbnb has an average rating of “Hold” and a consensus target price of $146.56.

Airbnb Stock Up 14.8 %

Airbnb stock opened at $121.32 on Monday. The firm has a market capitalization of $76.50 billion, a P/E ratio of 29.38, a P/E/G ratio of 3.52 and a beta of 1.15. The stock’s fifty day simple moving average is $131.85 and its 200-day simple moving average is $133.07. Airbnb has a twelve month low of $99.88 and a twelve month high of $166.74. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the sale, the chief executive officer now owns 12,460,447 shares in the company, valued at approximately $1,659,606,935.93. This represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at approximately $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,030,357 shares of company stock valued at $284,351,868 in the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Airbnb during the fourth quarter worth about $433,374,000. Clearbridge Investments LLC grew its stake in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the period. Two Sigma Advisers LP raised its holdings in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after acquiring an additional 2,577,000 shares during the last quarter. Meritage Group LP purchased a new position in shares of Airbnb during the 3rd quarter worth $160,985,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,185,892 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.