Airbnb (NASDAQ:ABNB) Price Target Raised to $151.00 at Bank of America

Airbnb (NASDAQ:ABNB) had its price objective upped by investment analysts at Bank of America to $151.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm presently has a “hold” rating on the stock. Bank of America‘s target price indicates a potential upside of 8.73% from the stock’s current price.

Several other analysts have also recently weighed in on ABNB. Citigroup raised their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and set a $155.00 price target on shares of Airbnb in a research report on Tuesday, February 4th. Robert W. Baird upped their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company cut their price objective on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $139.38.

Airbnb Trading Down 1.2 %

Shares of ABNB stock opened at $138.88 on Thursday. The company has a 50-day moving average of $132.90 and a two-hundred day moving average of $129.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb has a 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market cap of $88.05 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now directly owns 12,616,300 shares in the company, valued at $1,765,525,022. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $129.58, for a total value of $809,875.00. Following the completion of the sale, the chief financial officer now directly owns 484,988 shares in the company, valued at approximately $62,844,745.04. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,417,704 shares of company stock worth $187,654,829. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently added to or reduced their stakes in the stock. Edgewood Management LLC grew its position in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC increased its stake in Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock valued at $1,244,514,000 after buying an additional 72,991 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after acquiring an additional 2,590,475 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Airbnb during the fourth quarter valued at approximately $433,374,000. 80.76% of the stock is currently owned by institutional investors.

About Airbnb

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.