Airbnb (NASDAQ:ABNB) Upgraded to Hold at Truist Financial

Airbnb (NASDAQ:ABNB) was upgraded by analysts at Truist Financial from a “sell” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports. The brokerage presently has a $129.00 price objective on the stock, up from their previous price objective of $107.00. Truist Financial’s target price would indicate a potential downside of 2.13% from the company’s previous close.

Several other research analysts have also issued reports on ABNB. Jefferies Financial Group upped their price target on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Benchmark decreased their price target on shares of Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Sanford C. Bernstein lowered their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, January 21st. Finally, DA Davidson decreased their target price on shares of Airbnb from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $147.79.

Airbnb Stock Up 1.4%

ABNB opened at $131.81 on Thursday. Airbnb has a twelve month low of $99.88 and a twelve month high of $143.88. The stock has a market capitalization of $80.23 billion, a price-to-earnings ratio of 32.63, a P/E/G ratio of 1.59 and a beta of 1.12. The company has a 50-day simple moving average of $128.97 and a 200 day simple moving average of $126.84.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. Sell-side analysts anticipate that Airbnb will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $136.70, for a total transaction of $7,928,600.00. Following the sale, the director owned 576,015 shares of the company’s stock, valued at $78,741,250.50. The trade was a 9.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 4,260 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $125.29, for a total value of $533,735.40. Following the completion of the transaction, the insider directly owned 49,250 shares of the company’s stock, valued at $6,170,532.50. The trade was a 7.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 421,510 shares of company stock worth $55,107,650 over the last quarter. 27.91% of the stock is currently owned by company insiders.

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently bought and sold shares of ABNB. Transamerica Financial Advisors LLC grew its position in Airbnb by 143.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after buying an additional 112 shares in the last quarter. ORG Partners LLC boosted its position in shares of Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Entrust Financial LLC purchased a new position in shares of Airbnb during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Airbnb during the third quarter worth about $25,000. Finally, Aventura Private Wealth LLC bought a new position in shares of Airbnb in the fourth quarter worth approximately $29,000. Institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.