Airbnb (NASDAQ:ABNB) Stock Gets Price Target Bump from UBS Group

Airbnb (NASDAQ:ABNB) had its price target upped by research analysts at UBS Group from $172.00 to $181.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group‘s price objective indicates a potential upside of 7.08% from the company’s current price.

A number of other research firms also recently issued reports on ABNB. Canaccord Genuity Group set a $200.00 price target on shares of Airbnb in a research note on Friday, August 7th. Piper Sandler set a $150.00 price objective on shares of Airbnb in a research report on Friday, August 7th. Wall Street Zen cut shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Sunday, October 4th. Barclays lifted their target price on shares of Airbnb from $125.00 to $150.00 in a report on Friday, August 7th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Airbnb has an average rating of “Moderate Buy” and an average price target of $182.65.

Airbnb Price Performance

Shares of ABNB stock traded down $2.07 during trading hours on Tuesday, reaching $169.04. The company had a trading volume of 624,170 shares, compared to its average volume of 4,244,548. Airbnb has a 12-month low of $110.81 and a 12-month high of $193.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $101.22 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 1.90 and a beta of 1.24. The stock has a fifty day moving average of $170.06 and a 200-day moving average of $146.83.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. Airbnb’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. On average, equities analysts anticipate that Airbnb will post 5.29 earnings per share for the current year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 13,615 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $170.81, for a total value of $2,325,578.15. Following the completion of the transaction, the insider owned 20,567 shares of the company’s stock, valued at approximately $3,513,049.27. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David Bernstein sold 1,369 shares of Airbnb stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $168.01, for a total transaction of $230,005.69. Following the completion of the transaction, the chief accounting officer owned 45,655 shares of the company’s stock, valued at $7,670,496.55. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,281,967 shares of company stock worth $230,470,521 in the last three months. Corporate insiders own 27.21% of the company’s stock.

Institutional Trading of Airbnb

Several hedge funds have recently modified their holdings of ABNB. Wellington Management Group LLP boosted its holdings in shares of Airbnb by 80.6% during the second quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock valued at $827,929,000 after acquiring an additional 2,581,539 shares during the period. Amundi lifted its stake in Airbnb by 8.6% during the first quarter. Amundi now owns 4,686,765 shares of the company’s stock valued at $591,845,000 after purchasing an additional 370,426 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Airbnb by 114.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,401,521 shares of the company’s stock valued at $546,454,000 after purchasing an additional 1,816,522 shares during the period. Jennison Associates LLC raised its stake in Airbnb by 9,331.0% during the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after purchasing an additional 3,139,315 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Airbnb by 2.5% in the first quarter. Pacer Advisors Inc. now owns 2,325,214 shares of the company’s stock worth $293,628,000 after purchasing an additional 56,250 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.