Kayne Anderson Rudnick Investment Management LLC Sells 5,099 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,772 shares of the company’s stock after selling 5,099 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Airbnb were worth $33,931,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ABNB. Coldstream Capital Management Inc. grew its holdings in shares of Airbnb by 27.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,011 shares of the company’s stock worth $274,000 after purchasing an additional 431 shares in the last quarter. Quest Partners LLC bought a new stake in Airbnb in the 4th quarter valued at $251,000. EverSource Wealth Advisors LLC raised its stake in shares of Airbnb by 44.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $156,000 after buying an additional 354 shares in the last quarter. Commerce Bank lifted its holdings in shares of Airbnb by 20.6% during the 4th quarter. Commerce Bank now owns 21,055 shares of the company’s stock worth $2,866,000 after acquiring an additional 3,595 shares during the period. Finally, FineMark National Bank & Trust boosted its position in shares of Airbnb by 6.7% during the 4th quarter. FineMark National Bank & Trust now owns 3,194 shares of the company’s stock valued at $435,000 after acquiring an additional 200 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABNB. Deutsche Bank Aktiengesellschaft cut their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets decreased their price target on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Mizuho dropped their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Piper Sandler reduced their target price on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein dropped their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average target price of $134.17.

Airbnb Stock Up 1.9 %

NASDAQ:ABNB opened at $131.18 on Friday. The stock’s fifty day simple moving average is $125.60 and its 200-day simple moving average is $144.73. 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 quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company 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%. Airbnb’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Equities research analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 5,442 shares of Airbnb stock in a transaction on Monday, June 24th. The shares were sold at an average price of $150.00, for a total transaction of $816,300.00. Following the transaction, the director now directly owns 42,087 shares of the company’s stock, valued at $6,313,050. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction 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 sale, the director now directly owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 685,451 shares of company stock valued at $95,552,289. Corporate 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.