Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 42.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,953 shares of the company’s stock after selling 139,847 shares during the period. Airbnb accounts for 5.6% of TB Alternative Assets Ltd.’s holdings, making the stock its 5th largest position. TB Alternative Assets Ltd.’s holdings in Airbnb were worth $23,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SteelPeak Wealth LLC increased its stake in Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after acquiring an additional 985 shares during the last quarter. ProShare Advisors LLC increased its stake in Airbnb by 20.6% in the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after acquiring an additional 83,383 shares during the last quarter. Shellback Capital LP bought a new position in Airbnb in the second quarter valued at approximately $22,744,000. Bradley Foster & Sargent Inc. CT grew its stake in shares of Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after buying an additional 19,183 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Airbnb by 2.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock worth $182,335,000 after buying an additional 26,735 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ABNB shares. Royal Bank of Canada decreased their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Susquehanna dropped their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets dropped their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein dropped their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $134.55.

Airbnb Price Performance

NASDAQ:ABNB opened at $136.45 on Monday. The stock has a fifty day moving average of $123.17 and a 200 day moving average of $139.81. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market capitalization of $87.88 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNB) last released 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). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the firm earned $0.98 EPS. Airbnb’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts expect that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total value of $75,942.00. Following the completion of the sale, the chief technology officer now owns 205,774 shares of the company’s stock, valued at $26,044,815.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 405,571 shares of company stock worth $50,126,587. 27.83% of the stock is currently owned by insiders.

Airbnb Company 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.