Summit Trail Advisors LLC Decreases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Summit Trail Advisors LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 1.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,952 shares of the company’s stock after selling 360 shares during the period. Summit Trail Advisors LLC’s holdings in Airbnb were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. boosted its position in Airbnb by 9.1% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 43,090 shares of the company’s stock worth $5,464,000 after purchasing an additional 3,600 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Airbnb by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock worth $468,000 after buying an additional 97 shares during the last quarter. Cerity Partners LLC grew its position in Airbnb by 24.9% during the third quarter. Cerity Partners LLC now owns 168,114 shares of the company’s stock valued at $21,319,000 after buying an additional 33,509 shares during the period. Meridian Wealth Management LLC purchased a new stake in Airbnb during the third quarter valued at approximately $922,000. Finally, Edgewood Management LLC raised its position in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ABNB. DA Davidson upped their price objective on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. The Goldman Sachs Group cut their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Mizuho dropped their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein decreased their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.97.

Airbnb Trading Up 3.1 %

NASDAQ ABNB opened at $137.34 on Monday. The company has a market capitalization of $87.07 billion, a price-to-earnings ratio of 48.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.15. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company’s 50-day simple moving average is $132.73 and its two-hundred day simple moving average is $135.54.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS 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 firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm posted $2.39 earnings per share. Equities analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,769 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 value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 641,094 shares of company stock valued at $81,077,447 in the last quarter. 27.83% of the stock is currently owned by corporate insiders.

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.