Diversify Advisory Services LLC Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Diversify Advisory Services LLC trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,708 shares of the company’s stock after selling 1,022 shares during the quarter. Diversify Advisory Services LLC’s holdings in Airbnb were worth $2,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Advisors Network LLC raised its holdings in Airbnb by 53.4% in the third quarter. Integrated Advisors Network LLC now owns 2,171 shares of the company’s stock worth $275,000 after purchasing an additional 756 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Airbnb by 110.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,581 shares of the company’s stock worth $708,000 after acquiring an additional 2,927 shares in the last quarter. Traynor Capital Management Inc. boosted its position in shares of Airbnb by 29.7% in the 3rd quarter. Traynor Capital Management Inc. now owns 10,951 shares of the company’s stock worth $1,389,000 after purchasing an additional 2,508 shares in the last quarter. abrdn plc grew its stake in shares of Airbnb by 15.4% during the third quarter. abrdn plc now owns 175,182 shares of the company’s stock worth $22,245,000 after acquiring an additional 23,428 shares during the last quarter. Finally, Worth Financial Advisory Group LLC grew its stake in shares of Airbnb by 10.8% during the third quarter. Worth Financial Advisory Group LLC now owns 4,742 shares of the company’s stock worth $601,000 after acquiring an additional 462 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ABNB. Susquehanna lowered their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th. Bank of America reiterated a “hold” rating and issued a $142.00 target price (up previously from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Mizuho reduced their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. UBS Group boosted their target price on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $135.35.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the sale, the chief technology officer now directly owns 192,844 shares in the company, valued at $26,247,996.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction 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 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 document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the sale, the chief technology officer now directly owns 192,844 shares in the company, valued at approximately $26,247,996.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 406,171 shares of company stock valued at $50,208,253 over the last quarter. 27.83% of the stock is owned by insiders.

Airbnb Price Performance

ABNB stock opened at $137.78 on Wednesday. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $125.71 and a 200-day simple moving average of $138.52. The firm has a market capitalization of $88.40 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17.

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). The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that Airbnb, Inc. will post 4.33 earnings per share 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.