ASB Consultores LLC Trims Position in Airbnb, Inc. (NASDAQ:ABNB)

ASB Consultores LLC trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,212 shares of the company’s stock after selling 478 shares during the period. ASB Consultores LLC’s holdings in Airbnb were worth $335,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Canada Pension Plan Investment Board grew its stake in Airbnb by 104.6% during the second quarter. Canada Pension Plan Investment Board now owns 189,428 shares of the company’s stock valued at $28,723,000 after acquiring an additional 96,832 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Airbnb by 13.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,197 shares of the company’s stock valued at $788,000 after acquiring an additional 608 shares in the last quarter. Ieq Capital LLC lifted its position in Airbnb by 4.7% during the second quarter. Ieq Capital LLC now owns 89,752 shares of the company’s stock valued at $13,609,000 after purchasing an additional 3,989 shares during the last quarter. MQS Management LLC bought a new position in Airbnb during the second quarter valued at $360,000. Finally, Richardson Financial Services Inc. lifted its position in Airbnb by 77.2% during the second quarter. Richardson Financial Services Inc. now owns 629 shares of the company’s stock valued at $95,000 after purchasing an additional 274 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. TD Cowen lowered their price objective on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wedbush lowered their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler lowered their target price on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $134.17.

Airbnb Price Performance

NASDAQ:ABNB opened at $128.75 on Friday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $82.92 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The stock’s 50-day moving average price is $126.26 and its 200-day moving average price is $145.03.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $148.68, for a total value of $17,155,441.80. Following the transaction, the chief executive officer now directly owns 14,029,687 shares of the company’s stock, valued at approximately $2,085,933,863.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $148.68, for a total value of $17,155,441.80. Following the transaction, the chief executive officer now directly owns 14,029,687 shares of the company’s stock, valued at approximately $2,085,933,863.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 5,442 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $150.00, for a total transaction of $816,300.00. Following the completion of the transaction, the director now directly owns 42,087 shares in the company, valued at $6,313,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 685,451 shares of company stock valued at $95,552,289. 27.83% of the stock is owned by corporate insiders.

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.