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Airbnb (NASDAQ:ABNB) Stock Price Down 5.2% Following Analyst Downgrade

Thursday, June 23, 2022 | MarketBeat

Airbnb, Inc. (NASDAQ:ABNB - Get Rating) fell 5.2% during trading on Thursday after Morgan Stanley lowered their price target on the stock from $145.00 to $100.00. Morgan Stanley currently has an equal weight rating on the stock. Airbnb traded as low as $94.16 and last traded at $94.34. 56,480 shares were traded during mid-day trading, a decline of 99% from the average session volume of 5,939,283 shares. The stock had previously closed at $99.53.

Other equities analysts also recently issued research reports about the stock. UBS Group boosted their price target on shares of Airbnb from $178.00 to $185.00 in a report on Wednesday, May 4th. Susquehanna cut their price objective on Airbnb from $235.00 to $190.00 in a report on Thursday, May 5th. The Goldman Sachs Group lowered their target price on Airbnb from $150.00 to $95.00 and set a "sell" rating on the stock in a research note on Thursday, June 9th. HSBC lowered their price target on Airbnb from $233.00 to $213.00 in a research note on Wednesday, May 4th. Finally, Truist Financial reduced their target price on Airbnb from $190.00 to $160.00 and set a "hold" rating for the company in a report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $190.13.


In related news, insider Joseph Gebbia sold 15,523 shares of the business's stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $165.87, for a total value of $2,574,800.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 1,000 shares of the business's stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $174.00, for a total transaction of $174,000.00. The disclosure for this sale can be found here. Insiders have sold 668,934 shares of company stock worth $91,901,320 over the last ninety days. Insiders own 32.69% of the company's stock.

Hedge funds have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Airbnb by 61.1% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,900 shares of the company's stock worth $498,000 after buying an additional 1,100 shares during the period. Hellman Jordan Management Co. Inc. MA purchased a new stake in shares of Airbnb during the 1st quarter valued at about $879,000. American Trust raised its position in shares of Airbnb by 203.0% during the 1st quarter. American Trust now owns 11,281 shares of the company's stock valued at $1,938,000 after buying an additional 7,558 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Airbnb by 8.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 42,867 shares of the company's stock worth $7,363,000 after purchasing an additional 3,185 shares during the period. Finally, Walleye Capital LLC raised its position in Airbnb by 54.4% in the 1st quarter. Walleye Capital LLC now owns 33,131 shares of the company's stock worth $5,691,000 after purchasing an additional 11,676 shares during the period. 34.66% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $61.45 billion, a P/E ratio of 83.79 and a beta of 0.32. The stock's 50 day simple moving average is $127.43 and its 200 day simple moving average is $150.50.

Airbnb (NASDAQ:ABNB - Get Rating) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.25. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.45 billion. Airbnb had a net margin of 12.12% and a return on equity of 18.51%. Airbnb's revenue was up 70.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.75) earnings per share. On average, analysts anticipate that Airbnb, Inc. will post 1.89 earnings per share for the current year.

About Airbnb (NASDAQ:ABNB)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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