Atlantic Union Bankshares Corp Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Atlantic Union Bankshares Corp decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 48.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,455 shares of the company’s stock after selling 6,948 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Airbnb were worth $1,230,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares during the period. Norges Bank acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $619,584,000. Edgewood Management LLC raised its position in shares of Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the period. Alphinity Investment Management Pty Ltd lifted its holdings in Airbnb by 48.3% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock valued at $339,926,000 after acquiring an additional 813,074 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Airbnb by 12,298.0% in the fourth quarter. International Assets Investment Management LLC now owns 764,835 shares of the company’s stock worth $1,041,250,000 after acquiring an additional 758,666 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In related news, CAO David C. Bernstein sold 2,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $145.50, for a total transaction of $291,000.00. Following the completion of the sale, the chief accounting officer now owns 45,043 shares in the company, valued at approximately $6,553,756.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David C. Bernstein sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $145.50, for a total value of $291,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 45,043 shares in the company, valued at approximately $6,553,756.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 413,287 shares of company stock worth $61,071,555. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of ABNB opened at $151.63 on Friday. The firm has a fifty day moving average price of $150.43 and a 200 day moving average price of $150.91. The stock has a market cap of $97.66 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. Airbnb, Inc. has a 1-year low of $113.24 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $145.00 price target on shares of Airbnb in a report on Thursday, May 9th. TD Cowen reduced their price target on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Mizuho raised shares of Airbnb from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. Bank of America boosted their target price on Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, Piper Sandler restated a “neutral” rating and set a $155.00 price target (up from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $152.38.

Airbnb 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 connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.