Bank of America Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its price objective upped by analysts at Bank of America to $151.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the stock. Bank of America‘s price target points to a potential upside of 8.73% from the company’s current price.

A number of other research analysts have also recently weighed in on ABNB. UBS Group lifted their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Phillip Securities reissued a “reduce” rating and set a $120.00 price target on shares of Airbnb in a report on Tuesday, November 12th. Morgan Stanley boosted their price objective on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Piper Sandler increased their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Airbnb in a report on Friday, November 8th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $139.38.

Airbnb Stock Down 1.2 %

ABNB opened at $138.88 on Thursday. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The firm’s 50 day simple moving average is $132.90 and its two-hundred day simple moving average is $129.95. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $88.05 billion, a PE ratio of 48.77, a PEG ratio of 1.88 and a beta of 1.12.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,417,704 shares of company stock valued at $187,654,829. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several large investors have recently bought and sold shares of the company. CAP Partners LLC grew its stake in Airbnb by 3.6% during the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after acquiring an additional 77 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Airbnb by 1.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock valued at $728,000 after purchasing an additional 78 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Airbnb by 18.2% in the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after purchasing an additional 81 shares during the last quarter. Salvus Wealth Management LLC lifted its position in Airbnb by 2.5% during the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock worth $455,000 after buying an additional 84 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Airbnb by 19.3% during the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock worth $74,000 after buying an additional 94 shares during the last quarter. 80.76% of the stock is currently 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.