Wrapmanager Inc. Cuts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Wrapmanager Inc. cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 25.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,986 shares of the company’s stock after selling 2,427 shares during the quarter. Wrapmanager Inc.’s holdings in Airbnb were worth $886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MKA Charitable Fund boosted its stake in shares of Airbnb by 17.2% in the third quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after acquiring an additional 296,153 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Airbnb by 3,643.9% in the third quarter. Quest Partners LLC now owns 2,134 shares of the company’s stock worth $271,000 after acquiring an additional 2,077 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new stake in shares of Airbnb in the third quarter worth approximately $216,000. First Long Island Investors LLC boosted its stake in shares of Airbnb by 1.2% in the third quarter. First Long Island Investors LLC now owns 87,283 shares of the company’s stock worth $11,068,000 after acquiring an additional 1,069 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of Airbnb by 58.6% in the third quarter. Empirical Finance LLC now owns 2,616 shares of the company’s stock worth $332,000 after acquiring an additional 967 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Down 0.2 %

Airbnb stock opened at $132.19 on Tuesday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The stock has a 50 day moving average of $131.30 and a two-hundred day moving average of $136.26. 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 stock has a market capitalization of $83.80 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 1.87 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 analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business posted $2.39 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABNB. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. Morgan Stanley boosted their price objective on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. DA Davidson boosted their price objective on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday. Sanford C. Bernstein lowered their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Finally, Susquehanna boosted their price objective on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.97.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. The trade was a 72.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 417,206 shares of company stock valued at $51,738,467. Corporate 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.