Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,626 shares of the company’s stock after selling 15,325 shares during the period. TD Asset Management Inc’s holdings in Airbnb were worth $42,400,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Airbnb in the fourth quarter worth approximately $619,584,000. Jennison Associates LLC increased its position in shares of Airbnb by 57.9% in the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after acquiring an additional 3,558,178 shares in the last quarter. Edgewood Management LLC increased its position in shares of Airbnb by 20.8% in the fourth 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. Finally, Assenagon Asset Management S.A. increased its position in shares of Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABNB. TD Cowen dropped their target price on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. UBS Group cut their target price on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Barclays lowered their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group cut their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $134.48.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $147.97, for a total value of $88,782.00. Following the sale, the chief technology officer now owns 210,574 shares in the company, valued at $31,158,634.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $147.97, for a total value of $88,782.00. Following the completion of the transaction, the chief technology officer now directly owns 210,574 shares of the company’s stock, valued at $31,158,634.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total value of $11,928,800.00. Following the completion of the transaction, the chief technology officer now directly owns 207,574 shares of the company’s stock, valued at $30,951,359.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 612,907 shares of company stock worth $91,473,471. Insiders own 27.83% of the company’s stock.

Airbnb Trading Down 1.6 %

Shares of Airbnb stock opened at $114.28 on Friday. The company’s fifty day simple moving average is $131.77 and its 200-day simple moving average is $147.02. The company has a market cap of $73.60 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.55 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.43 EPS for the current year.

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.