Airbnb (NASDAQ:ABNB) Shares Gap Down on Analyst Downgrade

Airbnb, Inc. (NASDAQ:ABNB - Get Free Report)'s share price gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $170.00 to $167.00. The stock had previously closed at $157.90, but opened at $146.60. Citigroup currently has a buy rating on the stock. Airbnb shares last traded at $147.07, with a volume of 3,344,768 shares traded.

Other analysts also recently issued reports about the company. UBS Group boosted their target price on Airbnb from $143.00 to $157.00 and gave the stock a "neutral" rating in a research report on Thursday. Royal Bank of Canada upped their price objective on shares of Airbnb from $140.00 to $150.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 14th. HSBC downgraded Airbnb from a "buy" rating to a "hold" rating and lowered their price target for the company from $160.00 to $156.00 in a research report on Thursday. Susquehanna increased their price target on Airbnb from $160.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, February 14th. Finally, Bank of America upped their target price on shares of Airbnb from $155.00 to $168.00 and gave the company a "neutral" rating in a research note on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Airbnb currently has an average rating of "Hold" and an average target price of $151.91.

Insider Buying and Selling at Airbnb

In related news, CTO Aristotle N. Balogh sold 78,682 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the completion of the sale, the chief technology officer now directly owns 144,331 shares of the company's stock, valued at approximately $24,435,238.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 22,170 shares of the company's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $169.18, for a total value of $3,750,720.60. Following the transaction, the chief technology officer now directly owns 143,731 shares of the company's stock, valued at approximately $24,316,410.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares of the company's stock, valued at $24,435,238.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 397,474 shares of company stock valued at $63,809,871. 27.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in Airbnb in the 4th quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb in the third quarter valued at about $27,000. Bfsg LLC bought a new position in shares of Airbnb in the fourth quarter worth about $27,000. Trust Co. of Vermont acquired a new position in shares of Airbnb during the 4th quarter worth about $27,000. Finally, Vima LLC bought a new stake in Airbnb during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

The stock has a market cap of $95.15 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24. The stock has a fifty day simple moving average of $161.68 and a 200-day simple moving average of $145.50. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24.

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

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.