Pacer Advisors Inc. Trims Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Pacer Advisors Inc. lessened its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,572 shares of the company’s stock after selling 1,960 shares during the quarter. Pacer Advisors Inc.’s holdings in Airbnb were worth $10,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ABNB. Jennison Associates LLC boosted its position in Airbnb by 57.9% in the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after acquiring an additional 3,558,178 shares during the last quarter. Edgewood Management LLC increased its stake in shares of Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after purchasing an additional 1,684,646 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new position in Airbnb during the first quarter valued at $265,292,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the transaction, the chief technology officer now directly owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the transaction, the chief technology officer now directly owns 209,374 shares in the company, valued at $31,190,444.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $150.02, for a total value of $1,745,482.70. Following the completion of the sale, the director now owns 30,435 shares in the company, valued at approximately $4,565,858.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 564,624 shares of company stock valued at $77,580,547. 27.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler lowered their price target on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets lowered their target price 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. TD Cowen reduced their price target on Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Susquehanna lowered their price objective on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley cut their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $134.17.

Airbnb Trading Up 1.9 %

ABNB opened at $131.18 on Monday. The firm has a market capitalization of $84.49 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company’s 50 day simple moving average is $125.60 and its two-hundred day simple moving average is $144.63. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company 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 posted $0.98 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal 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.