Robert W. Baird Lowers Airbnb (NASDAQ:ABNB) to Neutral

Robert W. Baird downgraded shares of Airbnb (NASDAQ:ABNBGet Rating) from an outperform rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. They currently have $100.00 price objective on the stock, down from their prior price objective of $120.00.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group cut their price objective on shares of Airbnb from $200.00 to $175.00 and set a buy rating on the stock in a research note on Thursday, August 4th. Susquehanna Bancshares dropped their price target on shares of Airbnb from $150.00 to $135.00 and set a positive rating on the stock in a research report on Wednesday, November 2nd. The Goldman Sachs Group dropped their price target on shares of Airbnb from $100.00 to $98.00 and set a sell rating on the stock in a research report on Wednesday, November 2nd. Canaccord Genuity Group dropped their price target on shares of Airbnb from $200.00 to $175.00 and set a buy rating on the stock in a research report on Wednesday, August 3rd. Finally, Needham & Company LLC dropped their price target on shares of Airbnb from $220.00 to $150.00 and set a buy rating on the stock in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $141.70.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $96.63 on Tuesday. Airbnb has a fifty-two week low of $86.71 and a fifty-two week high of $191.73. The firm’s 50-day simple moving average is $107.96 and its 200 day simple moving average is $109.46. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. The stock has a market cap of $62.07 billion, a P/E ratio of 40.26, a P/E/G ratio of 1.78 and a beta of 0.99.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 22,597 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $114.22, for a total transaction of $2,581,029.34. Following the sale, the director now owns 127,050 shares in the company, valued at $14,511,651. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Gebbia sold 22,597 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $114.22, for a total transaction of $2,581,029.34. Following the transaction, the director now owns 127,050 shares of the company’s stock, valued at $14,511,651. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 3,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $120.09, for a total value of $360,270.00. Following the transaction, the director now directly owns 282,646 shares in the company, valued at approximately $33,942,958.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 833,391 shares of company stock worth $94,263,463. Insiders own 32.69% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Airbnb by 10.2% in the third quarter. Vanguard Group Inc. now owns 22,260,539 shares of the company’s stock valued at $2,338,247,000 after buying an additional 2,062,575 shares during the period. Jennison Associates LLC lifted its stake in Airbnb by 6.9% in the first quarter. Jennison Associates LLC now owns 15,345,417 shares of the company’s stock valued at $2,635,729,000 after buying an additional 996,378 shares during the period. Capital Research Global Investors lifted its stake in Airbnb by 23.4% in the first quarter. Capital Research Global Investors now owns 13,837,492 shares of the company’s stock valued at $2,376,753,000 after buying an additional 2,627,359 shares during the period. Polen Capital Management LLC lifted its stake in Airbnb by 30.5% in the first quarter. Polen Capital Management LLC now owns 12,953,525 shares of the company’s stock valued at $2,224,897,000 after buying an additional 3,029,742 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Airbnb by 29.9% in the third quarter. Renaissance Technologies LLC now owns 7,279,027 shares of the company’s stock valued at $764,589,000 after buying an additional 1,674,460 shares during the period. Institutional investors and hedge funds own 39.45% of the company’s stock.

About Airbnb

(Get Rating)

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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Analyst Recommendations for Airbnb (NASDAQ:ABNB)

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