Wrapmanager Inc. Lowers Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Wrapmanager Inc. reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 25.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,986 shares of the company’s stock after selling 2,427 shares during the period. Wrapmanager Inc.’s holdings in Airbnb were worth $886,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $958,279,000 after purchasing an additional 3,558,178 shares in the last quarter. Legal & General Group Plc lifted its holdings in Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after purchasing an additional 153,784 shares in the last quarter. MKA Charitable Fund lifted its holdings in Airbnb by 17.2% in the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after purchasing an additional 296,153 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in Airbnb by 5.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock worth $257,923,000 after purchasing an additional 92,780 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Airbnb by 19,052.8% in the 2nd 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 in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Down 0.2 %

Shares of NASDAQ ABNB opened at $132.19 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $83.80 billion, a P/E ratio of 46.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The business has a fifty day moving average price of $131.30 and a 200 day moving average price of $136.26.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company earned $2.39 earnings per share. Equities research analysts expect that Airbnb, Inc. will post 4.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird upped their price objective on Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. UBS Group upped their price objective on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup upped their price objective on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $138.97.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 72.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total value of $81,666.00. Following the completion of the sale, the chief technology officer now owns 192,844 shares of the company’s stock, valued at approximately $26,247,996.84. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 417,206 shares of company stock worth $51,738,467. 27.83% of the stock is owned by insiders.

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.