Evolutionary Tree Capital Management LLC Sells 1,982 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Evolutionary Tree Capital Management LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,635 shares of the company’s stock after selling 1,982 shares during the period. Airbnb accounts for 1.7% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 26th biggest holding. Evolutionary Tree Capital Management LLC’s holdings in Airbnb were worth $1,613,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ABNB. Transcendent Capital Group LLC bought a new stake in Airbnb during the 1st quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in shares of Airbnb during the 4th quarter worth about $27,000. New Millennium Group LLC acquired a new stake in shares of Airbnb during the 2nd quarter worth about $28,000. Vima LLC purchased a new stake in Airbnb in the 4th quarter valued at about $29,000. Finally, Cultivar Capital Inc. acquired a new position in Airbnb in the second quarter valued at about $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction that occurred on 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 directly owns 13,315,912 shares of the company’s stock, valued at $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.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $131.18 on Friday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The firm has a market capitalization of $84.49 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The company’s fifty day moving average price is $125.60 and its 200 day moving average price is $144.73.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of recent analyst reports. Bank of America dropped their price target on shares of Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald began coverage on Airbnb in a research note on Thursday, September 5th. They set an “underweight” rating and a $94.00 price target on the stock. Argus cut Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada decreased their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note 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 has a consensus rating of “Hold” and an average target price of $134.17.

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.