Bleakley Financial Group LLC Sells 842 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Bleakley Financial Group LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 10.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,931 shares of the company’s stock after selling 842 shares during the period. Bleakley Financial Group LLC’s holdings in Airbnb were worth $879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after purchasing an additional 791,149 shares during the period. Jennison Associates LLC grew its position in shares of Airbnb by 57.9% during the 1st 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 during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Airbnb by 158.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Legal & General Group Plc lifted its holdings in Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares during the period. Finally, Alphinity Investment Management Pty Ltd boosted its stake in Airbnb by 1.6% in the first quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock valued at $418,341,000 after acquiring an additional 39,129 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABNB. JPMorgan Chase & Co. cut their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird reduced their target price on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. TD Cowen lowered their price target on Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their price objective on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Five equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $134.55.

Airbnb Stock Up 0.3 %

ABNB stock opened at $136.45 on Monday. The company has a market cap of $87.88 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The business has a 50 day moving average price of $123.17 and a two-hundred day moving average price of $139.81. 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 released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion during 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%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Analysts anticipate that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The trade was a 0.00 % decrease in their position. The transaction 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, October 15th. The shares were sold at an average price of $133.51, for a total value of $80,106.00. Following the completion of the sale, the chief technology officer now owns 193,444 shares in the company, valued at approximately $25,826,708.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 405,571 shares of company stock valued at $50,126,587 in the last quarter. Company insiders own 27.83% of the company’s stock.

About Airbnb

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.