Airbnb (NASDAQ:ABNB) Price Target Raised to $130.00

Airbnb (NASDAQ:ABNB - Free Report) had its price target increased by Morgan Stanley from $125.00 to $130.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages have also recently weighed in on ABNB. Susquehanna lowered their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a report on Monday, May 5th. Benchmark lowered their price target on Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Barclays upped their target price on shares of Airbnb from $103.00 to $104.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb has an average rating of "Hold" and an average price target of $141.50.

Airbnb Stock Performance

Shares of ABNB stock traded up $1.86 on Monday, hitting $141.69. 2,160,543 shares of the stock traded hands, compared to its average volume of 5,235,802. The firm's 50-day moving average price is $134.50 and its two-hundred day moving average price is $130.93. The stock has a market capitalization of $88.76 billion, a PE ratio of 35.80, a PEG ratio of 2.61 and a beta of 1.13. Airbnb has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities research analysts anticipate that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $137.58, for a total transaction of $82,548.00. Following the sale, the chief technology officer owned 210,377 shares in the company, valued at $28,943,667.66. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,650,658 shares of company stock worth $218,970,735. Company insiders own 27.91% of the company's stock.

Institutional Trading of Airbnb

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Airbnb by 140.6% during the second quarter. Blue Trust Inc. now owns 1,364 shares of the company's stock worth $181,000 after buying an additional 797 shares during the period. Total Wealth Planning & Management Inc. increased its stake in Airbnb by 3.8% in the second quarter. Total Wealth Planning & Management Inc. now owns 3,533 shares of the company's stock valued at $468,000 after purchasing an additional 129 shares during the last quarter. IFP Advisors Inc increased its stake in Airbnb by 4.3% in the second quarter. IFP Advisors Inc now owns 2,398 shares of the company's stock valued at $317,000 after purchasing an additional 99 shares during the last quarter. Callan Family Office LLC increased its stake in Airbnb by 163.2% in the second quarter. Callan Family Office LLC now owns 22,589 shares of the company's stock valued at $2,989,000 after purchasing an additional 14,005 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Airbnb in the second quarter valued at approximately $170,189,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

About Airbnb

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.