Newbridge Financial Services Group Inc. Reduces Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Newbridge Financial Services Group Inc. decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,377 shares of the company’s stock after selling 130 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Airbnb were worth $664,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABNB. Transcendent Capital Group LLC acquired a new position in shares of Airbnb during the 1st quarter worth $25,000. New Millennium Group LLC acquired a new position in Airbnb during the second quarter worth about $28,000. Trust Co. of Vermont acquired a new position in Airbnb during the fourth quarter worth about $27,000. Westend Capital Management LLC purchased a new stake in shares of Airbnb in the first quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the first quarter valued at approximately $33,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABNB shares. Robert W. Baird cut their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company cut their price target on Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets cut their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $134.16.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $125.47 on Wednesday. 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’s 50 day moving average is $122.82 and its two-hundred day moving average is $142.74. The firm has a market capitalization of $80.81 billion, a P/E ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.16. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly 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 business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. Analysts anticipate that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the sale, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 80,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the sale, the chief technology officer now directly owns 207,574 shares of the company’s stock, valued at $30,951,359.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at approximately $31,833,968.08. The disclosure for this sale can be found here. Insiders sold 552,389 shares of company stock worth $75,733,256 over the last three months. Corporate insiders own 27.83% of the company’s stock.

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.