Private Advisor Group LLC lessened its stake in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 37.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,668 shares of the company’s stock after selling 6,840 shares during the quarter. Private Advisor Group LLC’s holdings in Airbnb were worth $1,480,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ABNB. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Airbnb in the 1st quarter valued at $215,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Airbnb by 2.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock valued at $182,335,000 after acquiring an additional 26,735 shares in the last quarter. Lake Street Private Wealth LLC acquired a new position in shares of Airbnb during the 1st quarter valued at $241,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Airbnb by 32.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 8,189 shares of the company’s stock valued at $1,351,000 after acquiring an additional 2,027 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Airbnb by 3.0% during the 1st quarter. Maryland State Retirement & Pension System now owns 32,508 shares of the company’s stock valued at $5,097,000 after acquiring an additional 956 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on ABNB shares. Mizuho reduced their target price on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Piper Sandler reduced their target price 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. UBS Group lifted their target price on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein cut their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.35.
Airbnb Trading Down 0.9 %
Shares of NASDAQ:ABNB opened at $136.50 on Thursday. The company has a 50 day moving average of $126.08 and a 200-day moving average of $138.50. The firm has a market cap of $87.58 billion, a P/E ratio of 18.57, 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 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 – Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Airbnb, Inc. will post 4.33 earnings per share for the current fiscal year.
Insider Activity at Airbnb
In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the sale, the chief technology officer now directly owns 192,844 shares of the company’s stock, valued at $26,247,996.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total transaction of $81,666.00. Following the sale, the chief technology officer now owns 192,844 shares in the company, valued at $26,247,996.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 406,171 shares of company stock valued at $50,208,253 over the last ninety days. 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.
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