Airbnb, Inc. $Airbnb, Inc.(ABNB)$ hit a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $185.00 to $110.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Airbnb traded as low as $92.04 and last traded at $92.62, with a volume of 139375 shares trading hands. The stock had previously closed at $97.53.
Other analysts have also recently issued research reports about the stock. JMP Securities cut shares of Airbnb from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 22nd. Mizuho dropped their price target on shares of Airbnb from $205.00 to $175.00 in a research note on Wednesday, May 4th. Morgan Stanley lowered their price objective on shares of Airbnb from $145.00 to $100.00 and set an "equal weight" rating for the company in a research report on Thursday, June 23rd. Stifel Nicolaus lowered their price objective on shares of Airbnb from $205.00 to $180.00 in a research report on Wednesday, May 4th. Finally, Wolfe Research lowered their price objective on shares of Airbnb from $130.00 to $110.00 and set a "peer perform" rating for the company in a research report on Wednesday, June 15th. One equities 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $185.13.
In other news, Director Belinda J. Johnson sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $163.19, for a total value of $3,263,800.00. Following the completion of the transaction, the director now owns 59,327 shares of the company's stock, valued at $9,681,573.13. The transaction was disclosed in a document filed with the SEC. Also, insider Joseph Gebbiasold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $169.44, for a total transaction of $42,360,000.00. Following the completion of the transaction, the insider now directly owns 4,797,398 shares of the company's stock, valued at approximately $812,871,117.12. The disclosure for this sale can be foundhere. In the last three months, insiders sold 652,411 shares of company stock valued at $89,152,520. Company insiders own 32.69% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. grew its holdings in Airbnb by 0.5% in the fourth quarter. Financial Counselors Inc. now owns 11,980 shares of the company's stock valued at $1,995,000 after purchasing an additional 62 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in Airbnb by 23.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 340 shares of the company's stock worth $57,000 after buying an additional 65 shares during the period. Intercontinental Wealth Advisors LLC grew its stake in Airbnb by 1.1% during the fourth quarter. Intercontinental Wealth Advisors LLC now owns 6,215 shares of the company's stock worth $1,035,000 after buying an additional 65 shares during the period. CWM LLC grew its stake in Airbnb by 2.5% during the first quarter. CWM LLC now owns 2,699 shares of the company's stock worth $464,000 after buying an additional 65 shares during the period. Finally, Asset Dedication LLC grew its stake in Airbnb by 46.4% during the first quarter. Asset Dedication LLC now owns 224 shares of the company's stock worth $39,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 34.66% of the company's stock.
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's 50 day simple moving average is $121.85 and its 200-day simple moving average is $147.95. The company has a market capitalization of $59.78 billion, a PE ratio of 80.31 and a beta of 0.32.
ABNB last announced its 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. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.45 billion. Airbnb had a net margin of 12.12% and a return on equity of 18.51%. The business's quarterly revenue was up 70.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.75) earnings per share. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 1.89 EPS for the current fiscal year.
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 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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