Needham & Company LLC Reiterates "Hold" Rating for Airbnb (NASDAQ:ABNB)

Needham & Company LLC reissued their hold rating on shares of Airbnb (NASDAQ:ABNB - Free Report) in a report released on Wednesday morning,Benzinga reports.

Other analysts also recently issued research reports about the stock. Tigress Financial raised their price objective on shares of Airbnb from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. HSBC raised shares of Airbnb from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Wedbush downgraded shares of Airbnb from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $150.00 to $135.00 in a research note on Friday, May 2nd. Royal Bank of Canada decreased their price objective on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler decreased their price objective on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $141.43.

Airbnb Price Performance

Shares of ABNB traded up $1.21 during midday trading on Wednesday, hitting $138.00. 3,673,218 shares of the company traded hands, compared to its average volume of 4,868,129. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a 50 day moving average of $121.83 and a 200-day moving average of $131.26. The stock has a market cap of $87.01 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 EPS. On average, analysts forecast that Airbnb will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 115,385 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $160.32, for a total transaction of $18,498,523.20. Following the sale, the chief executive officer now directly owns 11,885,528 shares of the company's stock, valued at $1,905,487,848.96. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $122.84, for a total transaction of $26,322,769.40. Following the sale, the director now directly owns 1,866,300 shares in the company, valued at $229,256,292. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,533,331 shares of company stock valued at $195,015,055. 27.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Airbnb

A number of large investors have recently made changes to their positions in ABNB. Harris Associates L P grew its holdings in shares of Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Norges Bank acquired a new position in Airbnb during the fourth quarter valued at $433,374,000. Pacer Advisors Inc. lifted its position in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the period. Clearbridge Investments LLC lifted its position in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. 80.76% of the stock is 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.