1832 Asset Management L.P. Trims Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

1832 Asset Management L.P. lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 19.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,310 shares of the company’s stock after selling 27,242 shares during the quarter. 1832 Asset Management L.P.’s holdings in Airbnb were worth $17,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABNB. Jennison Associates LLC grew its position 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 buying an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 acquiring an additional 3,558,178 shares in the last quarter. Edgewood Management LLC increased 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 acquiring an additional 2,135,529 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of Airbnb during the 1st quarter valued at approximately $265,292,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABNB. UBS Group lowered their target price on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird lowered their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada cut 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. JPMorgan Chase & Co. decreased their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays cut their price objective on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus price target of $134.17.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $151.29, for a total value of $90,774.00. Following the transaction, the chief technology officer now owns 208,774 shares in the company, valued at approximately $31,585,418.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $150.02, for a total transaction of $1,745,482.70. Following the completion of the sale, the director now owns 30,435 shares of the company’s stock, valued at $4,565,858.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $151.29, for a total value of $90,774.00. Following the completion of the transaction, the chief technology officer now directly owns 208,774 shares in the company, valued at $31,585,418.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,024 shares of company stock valued at $77,491,165. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.6 %

ABNB stock opened at $129.03 on Tuesday. 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 firm has a market capitalization of $83.10 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.54 and a beta of 1.16. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company’s 50 day simple moving average is $125.60 and its 200-day simple moving average is $144.49.

Airbnb (NASDAQ:ABNB) last announced 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). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the firm earned $0.98 earnings per share. Airbnb’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.39 EPS for the current year.

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.