BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,662 shares of the company’s stock after selling 10,993 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Airbnb were worth $9,341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ABNB. GAMMA Investing LLC increased its holdings in Airbnb by 16.3% in the second quarter. GAMMA Investing LLC now owns 2,164 shares of the company’s stock valued at $328,000 after buying an additional 303 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Airbnb by 13.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 901 shares of the company’s stock valued at $137,000 after buying an additional 107 shares in the last quarter. Versant Capital Management Inc increased its holdings in Airbnb by 1,780.0% in the second quarter. Versant Capital Management Inc now owns 282 shares of the company’s stock valued at $43,000 after buying an additional 267 shares in the last quarter. Bank & Trust Co purchased a new position in Airbnb in the second quarter valued at about $87,000. Finally, Mather Group LLC. increased its holdings in Airbnb by 84.5% in the second quarter. Mather Group LLC. now owns 3,017 shares of the company’s stock valued at $498,000 after buying an additional 1,382 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABNB. Citigroup increased their price target on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. DA Davidson increased their price target on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Susquehanna increased their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $138.97.

Airbnb Stock Performance

Shares of ABNB stock opened at $136.11 on Monday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a market cap of $86.29 billion, a PE ratio of 47.76, a P/E/G ratio of 1.93 and a beta of 1.15. 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’s fifty day simple moving average is $134.15 and its 200-day simple moving average is $135.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm earned $2.39 EPS. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.02 EPS for the current year.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at $23,501,280. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 718,017 shares of company stock valued at $91,842,052 in the last quarter. Company insiders own 27.83% of the company’s stock.

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.