Sei Investments Co. Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Sei Investments Co. lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 738,280 shares of the company’s stock after selling 191,103 shares during the quarter. Sei Investments Co. owned 0.11% of Airbnb worth $111,945,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Edgewood Management LLC lifted its holdings in shares of Airbnb by 20.8% in 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. Assenagon Asset Management S.A. boosted its stake in shares of Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new position in Airbnb during the first quarter worth $265,292,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Argus lowered shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Morgan Stanley lifted their price target on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Benchmark restated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $134.17.

Airbnb Stock Up 1.9 %

Shares of NASDAQ:ABNB opened at $131.18 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market cap of $84.49 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.54 and a beta of 1.16. The stock’s 50-day moving average price is $125.60 and its two-hundred day moving average price is $144.73. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph Gebbia sold 5,442 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $150.00, for a total value of $816,300.00. Following the transaction, the director now directly owns 42,087 shares in the company, valued at approximately $6,313,050. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The disclosure for this sale can be found here. Insiders have sold a total of 685,451 shares of company stock valued at $95,552,289 over the last quarter. Company insiders own 27.83% of the company’s stock.

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.