Airbnb, Inc. (NASDAQ:ABNB) Position Cut by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 31.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 62,220 shares of the company’s stock after selling 28,755 shares during the period. Ensign Peak Advisors Inc’s holdings in Airbnb were worth $9,434,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ABNB. Commerce Bank raised its holdings in shares of Airbnb by 20.6% during the fourth quarter. Commerce Bank now owns 21,055 shares of the company’s stock valued at $2,866,000 after buying an additional 3,595 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of Airbnb in the fourth quarter valued at approximately $421,000. Congress Wealth Management LLC DE acquired a new position in shares of Airbnb during the 4th quarter valued at $436,000. United Services Automobile Association lifted its holdings in shares of Airbnb by 11.7% in the fourth quarter. United Services Automobile Association now owns 12,796 shares of the company’s stock valued at $1,742,000 after buying an additional 1,343 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new position in Airbnb during the fourth quarter valued at about $218,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at $6,424,992.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Brian Chesky sold 230,769 shares of Airbnb 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 transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.88, for a total value of $145,880.00. Following the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 564,024 shares of company stock valued at $77,491,165. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen dropped their price target on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. B. Riley decreased their price target on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a research report on Monday. Finally, Piper Sandler decreased their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $134.17.

Airbnb Stock Performance

ABNB stock opened at $131.48 on Wednesday. The firm has a 50 day moving average of $124.84 and a two-hundred day moving average of $144.01. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a market capitalization of $84.68 billion, a price-to-earnings ratio of 17.60, 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 (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 EPS 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 business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Airbnb Company 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.