Airbnb, Inc. (NASDAQ:ABNB) Holdings Lowered by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 15,929 shares of the company’s stock after selling 331 shares during the period. Lake Street Advisors Group LLC’s holdings in Airbnb were worth $2,020,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Cullinan Associates Inc. increased its stake in Airbnb by 88.9% in the 3rd quarter. Cullinan Associates Inc. now owns 119,903 shares of the company’s stock worth $16,412,000 after purchasing an additional 56,416 shares in the last quarter. E. Ohman J or Asset Management AB increased its stake in Airbnb by 0.6% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 225,417 shares of the company’s stock worth $28,585,000 after purchasing an additional 1,405 shares in the last quarter. Dakota Wealth Management increased its stake in Airbnb by 1.8% in the 3rd quarter. Dakota Wealth Management now owns 9,175 shares of the company’s stock worth $1,163,000 after purchasing an additional 164 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Airbnb by 0.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 88,751 shares of the company’s stock worth $11,255,000 after purchasing an additional 634 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Airbnb by 24.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 2,530 shares of the company’s stock worth $321,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In other news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the company’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 sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 406,171 shares of company stock worth $50,208,253. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ABNB shares. Wedbush dropped their price target on Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. UBS Group lifted their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank of Canada reduced their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley lifted their price target on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $135.35.

Airbnb Stock Performance

Shares of ABNB stock traded up $2.19 during trading hours on Friday, reaching $134.94. 469,172 shares of the company’s stock were exchanged, compared to its average volume of 4,399,898. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $86.91 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.83 and a beta of 1.17. The business has a fifty day moving average price of $124.60 and a 200-day moving average price of $139.37. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Analysts predict that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

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.