Airbnb (NASDAQ:ABNB) Lowered to Neutral at Robert W. Baird

Robert W. Baird cut shares of Airbnb (NASDAQ:ABNBGet Rating) from an outperform rating to a neutral rating in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has $100.00 price target on the stock, down from their previous price target of $120.00.

A number of other research firms have also issued reports on ABNB. Citigroup reduced their target price on Airbnb from $160.00 to $140.00 and set a buy rating for the company in a report on Wednesday, August 3rd. Jefferies Financial Group reduced their target price on Airbnb from $140.00 to $138.00 and set a buy rating for the company in a report on Thursday, October 6th. KeyCorp reduced their target price on Airbnb from $145.00 to $142.00 and set an overweight rating for the company in a report on Wednesday, November 2nd. Piper Sandler reduced their target price on Airbnb from $121.00 to $110.00 and set a neutral rating for the company in a report on Tuesday, November 1st. Finally, Susquehanna Bancshares reduced their target price on Airbnb from $150.00 to $135.00 and set a positive rating for the company in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Airbnb presently has an average rating of Hold and an average price target of $141.70.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $95.28 on Tuesday. Airbnb has a one year low of $86.71 and a one year high of $191.73. The stock has a fifty day moving average of $109.09 and a 200-day moving average of $109.84. The company has a market capitalization of $61.21 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 1.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $125.29, for a total value of $313,225.00. Following the sale, the chief technology officer now directly owns 240,981 shares of the company’s stock, valued at $30,192,509.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Aristotle N. Balogh sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $125.29, for a total value of $313,225.00. Following the sale, the chief technology officer now directly owns 240,981 shares of the company’s stock, valued at $30,192,509.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Belinda J. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $101.83, for a total value of $101,830.00. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at $602,833.60. The disclosure for this sale can be found here. Insiders have sold 828,337 shares of company stock valued at $93,790,105 over the last three months. 32.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Airbnb

Hedge funds and other institutional investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd acquired a new stake in Airbnb during the first quarter worth about $1,988,000. Avantax Advisory Services Inc. grew its position in Airbnb by 161.4% during the second quarter. Avantax Advisory Services Inc. now owns 5,329 shares of the company’s stock worth $475,000 after buying an additional 3,290 shares in the last quarter. Scotia Capital Inc. grew its position in Airbnb by 3.8% during the second quarter. Scotia Capital Inc. now owns 88,526 shares of the company’s stock worth $7,886,000 after buying an additional 3,256 shares in the last quarter. First Foundation Advisors grew its position in Airbnb by 19.5% during the first quarter. First Foundation Advisors now owns 2,842 shares of the company’s stock worth $488,000 after buying an additional 464 shares in the last quarter. Finally, Quent Capital LLC grew its position in Airbnb by 368.4% during the first quarter. Quent Capital LLC now owns 890 shares of the company’s stock worth $153,000 after buying an additional 700 shares in the last quarter. 39.45% of the stock is owned by institutional investors and hedge funds.

About Airbnb

(Get Rating)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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