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

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

ABNB has been the subject of several other research reports. Mizuho upped their price target on shares of Airbnb from $175.00 to $200.00 in a report on Friday, August 7th. Rosenblatt Securities initiated coverage on shares of Airbnb in a report on Tuesday, September 1st. They set a “buy” rating and a $220.00 price objective on the stock. Barclays boosted their price objective on shares of Airbnb from $125.00 to $150.00 in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Airbnb from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Evercore set a $200.00 target price on Airbnb in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Moderate Buy” and an average price target of $182.65.

Airbnb Trading Down 1.2%

Shares of ABNB traded down $2.07 during trading hours on Tuesday, hitting $169.04. 624,170 shares of the stock traded hands, compared to its average volume of 4,244,548. The business has a fifty day moving average of $170.06 and a 200-day moving average of $146.83. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb has a 1-year low of $110.81 and a 1-year high of $193.45. The firm has a market capitalization of $101.22 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

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

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 200,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.79, for a total value of $34,958,000.00. Following the sale, the chief executive officer owned 10,501,685 shares of the company’s stock, valued at $1,835,589,521.15. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the completion of the sale, the insider directly owned 171,370 shares in the company, valued at approximately $29,888,641.70. This represents a 75.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,281,967 shares of company stock valued at $230,470,521 over the last ninety days. Company insiders own 27.21% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABNB. United Advisor Group LLC acquired a new position in shares of Airbnb during the 3rd quarter worth about $271,000. Alps Advisors Inc. increased its position in shares of Airbnb by 1.4% in the third quarter. Alps Advisors Inc. now owns 14,439 shares of the company’s stock valued at $2,320,000 after acquiring an additional 202 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Airbnb in the third quarter valued at about $9,875,000. Allegiance Financial Group Advisory Services LLC raised its holdings in Airbnb by 11.0% during the third quarter. Allegiance Financial Group Advisory Services LLC now owns 6,084 shares of the company’s stock worth $977,000 after acquiring an additional 604 shares in the last quarter. Finally, Alta Advisers Ltd raised its holdings in Airbnb by 70.7% during the third quarter. Alta Advisers Ltd now owns 2,977 shares of the company’s stock worth $478,000 after acquiring an additional 1,233 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

About Airbnb

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.