Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by New World Advisors LLC

New World Advisors LLC reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,015 shares of the company’s stock after selling 162 shares during the quarter. New World Advisors LLC’s holdings in Airbnb were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new stake in Airbnb during the 1st quarter worth about $25,000. New Millennium Group LLC acquired a new stake in shares of Airbnb during the second quarter worth about $28,000. Heritage Wealth Advisors boosted its position in Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Airbnb in the 1st quarter worth approximately $33,000. Finally, Cultivar Capital Inc. purchased a new position in Airbnb during the 2nd quarter worth approximately $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Up 1.4 %

Shares of ABNB traded up $1.83 during trading on Friday, reaching $134.58. 2,552,060 shares of the company traded hands, compared to its average volume of 4,409,951. The stock has a 50-day simple moving average of $124.97 and a 200-day simple moving average of $139.03. The stock has a market cap of $86.68 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. 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 posted its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Airbnb, Inc. will post 4.33 earnings per share for the current year.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of Airbnb 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 completion of the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, August 20th. The stock was 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 directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This trade represents 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 this hyperlink. Also, 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 sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 406,171 shares of company stock worth $50,208,253. 27.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ABNB. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wedbush reduced their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Piper Sandler decreased their price objective on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Robert W. Baird dropped their target price on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $135.35.

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.