New England Research & Management Inc. Decreases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

New England Research & Management Inc. trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 52.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,190 shares of the company’s stock after selling 4,625 shares during the quarter. New England Research & Management Inc.’s holdings in Airbnb were worth $531,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Joel Isaacson & Co. LLC raised its position in shares of Airbnb by 2.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after buying an additional 67 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Airbnb by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after purchasing an additional 68 shares during the period. Farrow Financial Inc. raised its position in Airbnb by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after purchasing an additional 69 shares during the period. Heritage Wealth Advisors raised its position in Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the period. Finally, GYL Financial Synergies LLC raised its position in Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after purchasing an additional 76 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the sale, the chief financial officer now owns 537,072 shares in the company, valued at approximately $64,448,640. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 557,246 shares of company stock valued at $73,473,851. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ABNB. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research report on Monday, August 26th. B. Riley dropped their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company dropped their target price on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Wedbush dropped their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $134.16.

Airbnb Stock Performance

Shares of NASDAQ ABNB traded up $0.38 during midday trading on Monday, reaching $130.23. The company had a trading volume of 2,846,339 shares, compared to its average volume of 4,509,591. The business’s 50-day simple moving average is $121.96 and its 200 day simple moving average is $141.98. The stock has a market cap of $83.87 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.72 and a beta of 1.17. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. On average, analysts forecast that Airbnb, Inc. will post 4.39 earnings per share 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.