Wells Fargo & Company Issues Pessimistic Forecast for Airbnb (NASDAQ:ABNB) Stock Price

Airbnb (NASDAQ:ABNB) had its target price reduced by Wells Fargo & Company from $134.00 to $100.00 in a research note released on Monday,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts have also issued research reports about the stock. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Truist Financial cut their price objective on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and raised their target price for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Robert W. Baird cut their price target on Airbnb from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 25th. Finally, Argus raised Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Five 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $146.56.

Airbnb Stock Performance

Shares of ABNB stock opened at $121.32 on Monday. The company’s fifty day simple moving average is $131.85 and its 200-day simple moving average is $133.07. 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 has a 52 week low of $99.88 and a 52 week high of $166.74. The company has a market cap of $76.50 billion, a PE ratio of 29.38, a P/E/G ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping 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, equities research analysts anticipate that Airbnb will post 4.31 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the sale, the director now directly owns 1,071,430 shares in the company, valued at $138,160,898.50. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $119.67, for a total transaction of $83,769.00. Following the transaction, the chief technology officer now directly owns 170,019 shares in the company, valued at approximately $20,346,173.73. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,030,357 shares of company stock worth $284,351,868. 27.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Airbnb

A number of institutional investors have recently added to or reduced their stakes in ABNB. Norges Bank bought a new stake in shares of Airbnb in the 4th quarter worth $433,374,000. Clearbridge Investments LLC grew its holdings in Airbnb by 147.3% during the fourth 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 position in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock worth $404,782,000 after acquiring an additional 2,577,000 shares in the last quarter. Meritage Group LP acquired a new stake in Airbnb in the 3rd quarter valued at about $160,985,000. Finally, Principal Financial Group Inc. lifted its holdings in Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after acquiring an additional 1,185,892 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Company Profile

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.