Weiss Ratings Reaffirms Hold (C) Rating for Airbnb (NASDAQ:ABNB)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Airbnb's stock (NASDAQ:ABNB), with a consensus target price of $141.81 among analysts.
• Airbnb's stock is currently trading at $120.06, with a year-to-date performance revealing a low of $99.88 and a high of $163.93.
• In recent transactions, insiders such as CTO Aristotle N. Balogh and Director Joseph Gebbia sold significant amounts of Airbnb stock, indicating potential shifts in management sentiment.

Airbnb (NASDAQ:ABNB - Get Free Report)'s stock had its "hold (c)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on ABNB. UBS Group lowered their target price on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Tuesday. Jefferies Financial Group lowered their target price on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wedbush lowered their target price on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Truist Financial lowered their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Airbnb presently has a consensus rating of "Hold" and a consensus target price of $141.81.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $0.21 during trading on Wednesday, hitting $120.06. The company had a trading volume of 2,488,862 shares, compared to its average volume of 5,186,813. The company has a market cap of $74.61 billion, a P/E ratio of 29.06, a PEG ratio of 2.20 and a beta of 1.10. Airbnb has a 52 week low of $99.88 and a 52 week high of $163.93. The business's 50-day moving average is $125.08 and its 200 day moving average is $127.47.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the business earned $0.86 EPS. The company's revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Airbnb will post 4.31 EPS for the current year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the transaction, the chief technology officer owned 202,006 shares in the company, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the transaction, the director owned 472,015 shares of the company's stock, valued at $65,529,842.45. This trade represents a 33.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,431,476 shares of company stock valued at $182,776,618 in the last ninety days. 27.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors and hedge funds have recently made changes to their positions in ABNB. Park Avenue Securities LLC grew its holdings in shares of Airbnb by 4.0% in the 1st quarter. Park Avenue Securities LLC now owns 19,445 shares of the company's stock valued at $2,323,000 after buying an additional 750 shares during the period. Farther Finance Advisors LLC lifted its position in Airbnb by 5.3% in the 1st quarter. Farther Finance Advisors LLC now owns 3,748 shares of the company's stock valued at $454,000 after acquiring an additional 189 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Airbnb by 25.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,580 shares of the company's stock valued at $1,025,000 after acquiring an additional 1,753 shares in the last quarter. GAMMA Investing LLC lifted its position in Airbnb by 98.9% in the 1st quarter. GAMMA Investing LLC now owns 5,115 shares of the company's stock valued at $611,000 after acquiring an additional 2,543 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in Airbnb by 8.1% in the 1st quarter. Integrated Advisors Network LLC now owns 2,387 shares of the company's stock valued at $285,000 after acquiring an additional 179 shares in the last quarter. Institutional investors and hedge funds 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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