Townsquare Capital LLC Has $26.60 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Townsquare Capital LLC trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,751 shares of the company’s stock after selling 10,101 shares during the period. Townsquare Capital LLC’s holdings in Airbnb were worth $26,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Pacer Advisors Inc. boosted its stake in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after purchasing an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC bought a new position in Airbnb in the 1st quarter valued at approximately $265,292,000. Edgewood Management LLC lifted its stake in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of 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 worth $1,419,610,000 after buying an additional 1,113,747 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. DA Davidson increased their price target on Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Raymond James initiated coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price target on the stock. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Friday, November 8th. Piper Sandler raised their price objective on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Phillip Securities reissued a “reduce” rating and set a $120.00 target price on shares of Airbnb in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.97.

Airbnb Stock Performance

Shares of Airbnb stock opened at $139.67 on Wednesday. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The business has a 50-day simple moving average of $133.55 and a 200 day simple moving average of $135.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $88.55 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.95 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion during 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 period in the prior year, the firm posted $2.39 EPS. On average, research analysts anticipate that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb 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 value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 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 $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 641,094 shares of company stock valued at $81,077,447. 27.83% of the stock is owned by insiders.

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.