Airbnb (NASDAQ:ABNB) Downgraded by HSBC

Airbnb (NASDAQ:ABNB - Get Free Report) was downgraded by equities research analysts at HSBC from a "buy" rating to a "hold" rating in a report released on Thursday, MarketBeat reports. They currently have a $156.00 price objective on the stock, down from their prior price objective of $160.00. HSBC's price target points to a potential upside of 6.09% from the stock's previous close.

Several other research analysts also recently weighed in on ABNB. Tigress Financial upped their target price on Airbnb from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. B. Riley Financial started coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a "neutral" rating and a $150.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Airbnb from $118.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. DA Davidson reaffirmed a "neutral" rating and issued a $145.00 price target on shares of Airbnb in a research note on Friday, March 15th. Finally, Piper Sandler reiterated a "neutral" rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a research note on Thursday. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $151.91.

Airbnb Stock Performance

NASDAQ ABNB traded down $10.85 during mid-day trading on Thursday, reaching $147.05. 14,791,206 shares of the stock were exchanged, compared to its average volume of 4,584,189. The company has a market capitalization of $95.15 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.12 and a beta of 1.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The business's 50 day moving average is $161.68 and its 200-day moving average is $145.50. Airbnb has a 1 year low of $103.55 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company posted $0.18 EPS. The company's revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts forecast that Airbnb will post 4.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total value of $97,200.00. Following the completion of the transaction, the chief technology officer now owns 219,904 shares of the company's stock, valued at approximately $35,624,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now directly owns 219,904 shares in the company, valued at $35,624,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 22,170 shares of the firm's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $169.18, for a total transaction of $3,750,720.60. Following the completion of the sale, the chief technology officer now directly owns 143,731 shares in the company, valued at approximately $24,316,410.58. The disclosure for this sale can be found here. Insiders have sold a total of 397,474 shares of company stock worth $63,809,871 in the last ninety days. 27.83% of the stock is owned by corporate insiders.

Institutional Trading of Airbnb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Airbnb by 43.0% during the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company's stock worth $4,697,896,000 after purchasing an additional 10,301,746 shares during the last quarter. Norges Bank acquired a new position in shares of Airbnb in the 4th quarter valued at $619,584,000. Jennison Associates LLC grew its position in shares of Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company's stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the last quarter. Edgewood Management LLC grew its position in shares of Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company's stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Airbnb in the third quarter valued at $235,338,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.