Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Adero Partners LLC

Adero Partners LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,702 shares of the company’s stock after selling 133 shares during the period. Adero Partners LLC’s holdings in Airbnb were worth $3,513,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABNB. Price T Rowe Associates Inc. MD increased its stake in shares of Airbnb by 158.1% in 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. Assenagon Asset Management S.A. increased its stake in shares of Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC bought a new stake in Airbnb during the first quarter valued at $265,292,000. International Assets Investment Management LLC increased its stake in Airbnb by 19,430.3% during the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after purchasing an additional 1,113,747 shares during the last quarter. Finally, Swedbank AB bought a new stake in Airbnb during the first quarter valued at $175,496,000. 80.76% of the stock is owned by institutional investors and hedge funds.

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 stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock worth $51,809,831 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Argus lowered shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Bank of America reiterated a “hold” rating and set a $142.00 target price (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Airbnb in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.31.

Airbnb Price Performance

NASDAQ ABNB opened at $132.50 on Friday. The stock’s 50-day moving average price is $130.99 and its two-hundred day moving average price is $136.58. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market cap of $85.01 billion, a PE ratio of 46.49, a PEG 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.

Airbnb (NASDAQ:ABNB) last issued its earnings results 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). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the company earned $2.39 EPS. On average, analysts predict that Airbnb, Inc. will post 4.04 EPS for the current year.

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.