Truist Financial Has Lowered Expectations for Airbnb (NASDAQ:ABNB) Stock Price

Key Points

• Truist Financial has lowered its target price for Airbnb's stock from $106.00 to $104.00, indicating a potential downside of 18.49% from the stock's previous closing price.
• A mix of recent ratings: while JPMorgan raised its target to $130.00, other analysts issued lower ratings with the consensus currently at a "Hold" with an average target price of $142.66.
• Insider selling has been notable, with Director Joseph Gebbia selling 236,000 shares and a total of over 1.4 million shares sold by insiders in the last 90 days.

Airbnb (NASDAQ:ABNB - Free Report) had its price objective reduced by Truist Financial from $106.00 to $104.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a sell rating on the stock.

Several other equities analysts have also recently weighed in on the company. UBS Group lowered their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Wedbush lowered their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Morgan Stanley lowered their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Citizens Jmp raised Airbnb to a "hold" rating in a report on Monday, August 11th. Finally, Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $142.66.

Airbnb Stock Down 1.2%

Shares of Airbnb stock traded down $1.56 on Wednesday, reaching $123.81. The company's stock had a trading volume of 4,326,500 shares, compared to its average volume of 4,472,522. The company has a market capitalization of $76.94 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.26 and a beta of 1.13. The firm's fifty day simple moving average is $131.64 and its two-hundred day simple moving average is $129.29. Airbnb has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. As a group, research analysts predict that Airbnb will post 4.31 EPS for the current year.

Insider Activity

In other news, CAO David C. Bernstein sold 5,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 4,630 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,674,926 shares of company stock worth $221,778,833. Company insiders own 27.91% of the company's stock.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently bought and sold shares of the business. Harris Associates L P increased its stake in Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after buying an additional 4,598,125 shares in the last quarter. Norges Bank purchased a new stake in Airbnb in the 2nd quarter worth $483,644,000. Pacer Advisors Inc. increased its stake in Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after buying an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP increased its stake in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after buying an additional 2,577,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock worth $500,755,000 after buying an additional 1,916,676 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

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.