Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 96.7% during the first quarter, Holdings Channel.com reports. The firm owned 2,164 shares of the company’s stock after selling 64,401 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Airbnb were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ABNB. Vanguard Group Inc. raised its position in Airbnb by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Norges Bank acquired a new stake in shares of Airbnb during the 4th quarter worth about $619,584,000. Edgewood Management LLC raised its position in shares of Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of Airbnb by 48.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after acquiring an additional 813,074 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Airbnb by 12,298.0% during the 4th quarter. International Assets Investment Management LLC now owns 764,835 shares of the company’s stock worth $1,041,250,000 after acquiring an additional 758,666 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABNB. Benchmark began coverage on Airbnb in a research report on Thursday, April 11th. They set a “buy” rating and a $190.00 target price on the stock. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and raised their target price for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. Wedbush upgraded Airbnb from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $160.00 to $165.00 in a research note on Tuesday, May 28th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research note on Thursday, May 9th. Finally, B. Riley assumed coverage on Airbnb in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and an average target price of $152.38.

Airbnb Stock Performance

Shares of ABNB stock opened at $150.00 on Thursday. The stock has a fifty day moving average price of $150.67 and a 200 day moving average price of $150.84. The stock has a market cap of $96.61 billion, a PE ratio of 20.08, a P/E/G ratio of 1.87 and a beta of 1.18. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.18. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Sell-side analysts forecast that Airbnb, Inc. will post 4.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO David C. Bernstein sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total value of $882,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at $6,915,321. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO David C. Bernstein sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total value of $882,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at $6,915,321. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total value of $96,426.00. Following the completion of the transaction, the chief technology officer now directly owns 143,131 shares of the company’s stock, valued at $23,002,583.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,687 shares of company stock valued at $60,982,173. 27.83% of the stock is 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.