Airbnb, Inc. (NASDAQ:ABNB) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Airbnb has received a consensus rating of "Hold" from 37 analysts, with 5 recommending a sell, 17 a hold, 13 a buy, and 2 a strong buy, while the average 12-month target price is $142.10.
• Insider trading activity shows that CEO Brian Chesky sold 8,000 shares, and CFO Elinor Mertz sold 6,250 shares, indicating a significant decrease in their ownership stakes.
• Hedge funds and institutional investors own approximately 80.76% of Airbnb, with several firms recently increasing their holdings, highlighting ongoing institutional interest in the company.

Shares of Airbnb, Inc. (NASDAQ:ABNB - Get Free Report) have been given a consensus rating of "Hold" by the thirty-seven ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation, thirteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $142.10.

A number of equities research analysts have recently issued reports on the stock. DA Davidson raised shares of Airbnb from a "neutral" rating to a "buy" rating and reduced their price target for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. UBS Group boosted their price target on shares of Airbnb from $137.00 to $156.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wells Fargo & Company boosted their price target on shares of Airbnb from $104.00 to $111.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Cantor Fitzgerald reissued an "underweight" rating and issued a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 8,000 shares of Airbnb stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the completion of the sale, the chief executive officer directly owned 40,800 shares in the company, valued at $5,235,864. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the sale, the chief financial officer owned 467,611 shares of the company's stock, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,435,023 shares of company stock valued at $192,583,867. Company insiders own 27.83% of the company's stock.

Institutional Investors Weigh In On Airbnb

Hedge funds and other institutional investors have recently modified their holdings of the company. Ritholtz Wealth Management grew its holdings in shares of Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after buying an additional 484 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Airbnb by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after buying an additional 228 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Airbnb by 40.1% during the first quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Airbnb by 366.3% during the first quarter. Golden State Wealth Management LLC now owns 886 shares of the company's stock worth $106,000 after buying an additional 696 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Airbnb by 39.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock valued at $8,750,000 after purchasing an additional 20,753 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Airbnb stock opened at $129.96 on Wednesday. The company's 50 day simple moving average is $135.23 and its 200-day simple moving average is $131.17. The company has a market capitalization of $81.41 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 2.44 and a beta of 1.13. Airbnb has a 1 year low of $99.88 and a 1 year high of $163.93.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.