Airbnb's (ABNB) "Hold" Rating Reaffirmed at Needham & Company LLC

Airbnb (NASDAQ:ABNB - Get Free Report)'s stock had its "hold" rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports.

Other research analysts have also recently issued reports about the stock. Piper Sandler Companies raised their price objective on Airbnb from $145.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday. B. Riley began coverage on shares of Airbnb in a report on Wednesday, April 3rd. They issued a "neutral" rating and a $150.00 price objective for the company. TD Cowen decreased their price target on shares of Airbnb from $180.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday. DA Davidson reiterated a "neutral" rating and issued a $145.00 target price on shares of Airbnb in a report on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Airbnb from $140.00 to $150.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 14th. Four research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $151.91.

Airbnb Trading Down 6.9 %

Shares of NASDAQ:ABNB traded down $10.85 on Thursday, reaching $147.05. 14,791,206 shares of the company traded hands, compared to its average volume of 4,584,189. The stock has a market capitalization of $95.15 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24. The business's 50-day simple moving average is $161.68 and its 200 day simple moving average is $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 has a 52 week low of $103.55 and a 52 week 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 for the quarter, beating analysts' consensus estimates of $0.23 by $0.18. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. Airbnb's revenue was up 17.8% on a year-over-year basis. As a group, equities analysts anticipate that Airbnb will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian Chesky sold 76,912 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the sale, the chief executive officer now directly owns 14,545,529 shares of the company's stock, valued at approximately $2,149,683,730.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Brian Chesky sold 76,912 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total value of $11,366,824.48. Following the completion of the sale, the chief executive officer now owns 14,545,529 shares of the company's stock, valued at $2,149,683,730.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dave Stephenson sold 7,838 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total transaction of $1,144,191.24. Following the transaction, the chief financial officer now owns 85,802 shares in the company, valued at approximately $12,525,375.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,874 shares of company stock valued at $63,712,671. Company insiders own 27.83% of the company's stock.

Institutional Trading of Airbnb

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Airbnb by 43.0% during the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company's stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Edgewood Management LLC increased its position in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company's stock worth $1,690,556,000 after buying an additional 2,135,529 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company's stock valued at $1,753,860,000 after acquiring an additional 3,899,179 shares during the period. Norges Bank bought a new position in shares of Airbnb in the fourth quarter worth approximately $619,584,000. Finally, Northern Trust Corp increased its stake in shares of Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company's stock worth $598,745,000 after purchasing an additional 1,276,456 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

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.

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