Truist Financial Cuts Airbnb (NASDAQ:ABNB) Price Target to $112.00

Airbnb (NASDAQ:ABNB) had its target price trimmed by Truist Financial from $123.00 to $112.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

ABNB has been the subject of several other research reports. Wells Fargo & Company reduced their price target on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group upped their price target on shares of Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and upped their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. UBS Group upped their price target on shares of Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $147.82.

Airbnb Stock Up 2.1 %

Shares of NASDAQ:ABNB opened at $128.80 on Friday. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market capitalization of $81.21 billion, a PE ratio of 31.19, a PEG ratio of 3.52 and a beta of 1.10. The company has a 50 day moving average price of $135.72 and a two-hundred day moving average price of $133.43.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Analysts forecast that Airbnb will post 4.31 earnings per share for the current year.

Insider Activity

In other news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $135.82, for a total value of $5,223,773.02. Following the transaction, the chief executive officer now directly owns 12,498,908 shares of the company’s stock, valued at $1,697,601,684.56. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $135.35, for a total transaction of $94,745.00. Following the completion of the transaction, the chief technology officer now directly owns 184,714 shares in the company, valued at $25,001,039.90. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,055,909 shares of company stock valued at $289,763,290 over the last ninety days. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds have recently bought and sold shares of the business. Verde Capital Management increased its position in Airbnb by 25.3% during the fourth quarter. Verde Capital Management now owns 21,118 shares of the company’s stock worth $2,775,000 after acquiring an additional 4,269 shares during the period. Tri Ri Asset Management Corp bought a new position in Airbnb during the third quarter worth about $6,352,000. Baltimore Washington Financial Advisors Inc. increased its position in Airbnb by 14.8% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company’s stock worth $6,498,000 after acquiring an additional 6,357 shares during the period. Assenagon Asset Management S.A. increased its position in Airbnb by 40.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock worth $90,123,000 after acquiring an additional 197,558 shares during the period. Finally, Sarasin & Partners LLP bought a new position in Airbnb during the fourth quarter worth about $2,272,000. 80.76% of the stock is owned by institutional investors.

Airbnb Company Profile

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.