UBS Group Lowers Airbnb (NASDAQ:ABNB) Price Target to $148.00

Key Points

• UBS Group has reduced its price target for Airbnb (NASDAQ:ABNB) from $156.00 to $148.00, maintaining a "neutral" rating that suggests a potential upside of 25.68% from its current price.
• Overall, Airbnb's average rating among analysts is "Hold" with an average price target of $141.30, while a majority have assigned it hold or sell ratings.
• Insider trading activity includes CAO David C. Bernstein selling 5,000 shares, decreasing their position by 10.50%, and significant increases in stake by various hedge funds in the recent quarter.

Airbnb (NASDAQ:ABNB - Get Free Report) had its target price reduced by research analysts at UBS Group from $156.00 to $148.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential upside of 25.68% from the company's current price.

Several other analysts have also commented on ABNB. BNP Paribas raised Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on Airbnb from $111.00 to $110.00 and set an "underweight" rating for the company in a report on Thursday. Piper Sandler cut their price objective on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Truist Financial restated a "sell" rating and set a $106.00 target price (down previously from $112.00) on shares of Airbnb in a report on Friday, May 30th. Finally, Phillip Securities downgraded shares of Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $141.30.

Airbnb Price Performance

ABNB traded down $12.74 during midday trading on Thursday, hitting $117.76. 11,136,849 shares of the company's stock traded hands, compared to its average volume of 5,271,855. The company has a market cap of $73.77 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.42 and a beta of 1.13. Airbnb has a one year low of $99.88 and a one year high of $163.93. The stock's fifty day simple moving average is $135.27 and its 200-day simple moving average is $131.16.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the business posted $0.86 EPS. Airbnb's revenue was up 12.7% compared to the same quarter last year. On average, research analysts expect that Airbnb will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the transaction, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the transaction, the chief technology officer directly owned 209,777 shares of the company's stock, valued at $29,240,816.03. The trade was a 0.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,671,023 shares of company stock worth $223,195,427. 27.91% of the stock is owned by insiders.

Institutional Trading of Airbnb

Hedge funds have recently made changes to their positions in the stock. Harris Associates L P grew its stake 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. Pacer Advisors Inc. boosted its position in Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after acquiring an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares in the last quarter. AQR Capital Management LLC raised its stake in Airbnb by 81.0% during the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after buying an additional 1,916,676 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. 80.76% of the stock is owned by 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.

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