Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,683 shares of the company’s stock after selling 2,220 shares during the period. Airbnb accounts for about 1.0% of Cullinan Associates Inc.’s portfolio, making the stock its 27th largest holding. Cullinan Associates Inc.’s holdings in Airbnb were worth $15,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management increased its stake in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in Airbnb during the 3rd quarter worth approximately $30,000. Finally, Quarry LP acquired a new stake in Airbnb during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Trading Down 1.1 %

ABNB stock opened at $129.78 on Tuesday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a market cap of $82.28 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 1.72 and a beta of 1.13. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $133.47 and a 200-day simple moving average of $130.39.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the firm earned $2.39 earnings per share. On average, equities research analysts expect that Airbnb, Inc. will post 3.98 EPS for the current year.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total value of $68,005.00. Following the transaction, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,372,293 shares of company stock valued at $181,759,318 over the last quarter. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ABNB. Barclays boosted their price target on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Bank of America lifted their price target on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Phillip Securities restated a “reduce” rating and issued a $120.00 price objective on shares of Airbnb in a research note on Tuesday, November 12th. Evercore ISI boosted their price objective on Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Finally, JMP Securities reissued a “market perform” rating on shares of Airbnb in a research report on Monday, December 16th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average target price of $139.63.

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.