Airbnb (NASDAQ:ABNB) Shares Down 5.2% After Analyst Downgrade

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Airbnb, Inc. (NASDAQ:ABNBGet Rating) was down 5.2% during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $145.00 to $100.00. Morgan Stanley currently has an equal weight rating on the stock. Airbnb traded as low as $94.16 and last traded at $94.34. Approximately 56,480 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 5,939,283 shares. The stock had previously closed at $99.53.

Several other research firms have also issued reports on ABNB. Wolfe Research reduced their target price on shares of Airbnb from $130.00 to $110.00 and set a “peer perform” rating for the company in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Airbnb from $150.00 to $155.00 in a report on Wednesday, May 4th. KeyCorp cut their price target on shares of Airbnb from $210.00 to $195.00 in a report on Tuesday, May 3rd. Mizuho cut their price target on shares of Airbnb from $205.00 to $175.00 in a report on Wednesday, May 4th. Finally, Truist Financial cut their price target on shares of Airbnb from $190.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $190.13.

In other Airbnb news, CTO Aristotle N. Balogh sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $174.00, for a total transaction of $174,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 5,500 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $173.23, for a total value of $952,765.00. Following the transaction, the chief technology officer now directly owns 284,968 shares of the company’s stock, valued at approximately $49,365,006.64. The disclosure for this sale can be found here. Insiders sold 668,934 shares of company stock valued at $91,901,320 in the last ninety days. 32.69% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. CWM LLC purchased a new position in Airbnb during the fourth quarter valued at $439,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Airbnb by 25.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,415 shares of the company’s stock valued at $4,231,000 after acquiring an additional 5,092 shares in the last quarter. JustInvest LLC increased its holdings in shares of Airbnb by 203.6% during the fourth quarter. JustInvest LLC now owns 8,358 shares of the company’s stock valued at $1,392,000 after acquiring an additional 5,605 shares in the last quarter. Steel Peak Wealth Management LLC bought a new position in shares of Airbnb during the fourth quarter valued at $263,000. Finally, Motley Fool Asset Management LLC increased its holdings in shares of Airbnb by 7.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 16,145 shares of the company’s stock valued at $2,688,000 after acquiring an additional 1,162 shares in the last quarter. 34.66% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $125.93 and a two-hundred day moving average price of $149.91. The stock has a market capitalization of $61.54 billion, a P/E ratio of 82.52 and a beta of 0.32.

Airbnb (NASDAQ:ABNBGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.25. Airbnb had a return on equity of 18.51% and a net margin of 12.12%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned ($1.75) earnings per share. The company’s revenue was up 70.1% on a year-over-year basis. Sell-side analysts anticipate that Airbnb, Inc. will post 1.89 earnings per share for the current fiscal year.

About Airbnb (NASDAQ:ABNB)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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