Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 5.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,648 shares of the company’s stock after selling 160 shares during the period. Ballentine Partners LLC’s holdings in Airbnb were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABNB. Norges Bank acquired a new position in Airbnb during the fourth quarter worth about $619,584,000. Jennison Associates LLC boosted its position in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Edgewood Management LLC raised its holdings in shares of Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after purchasing an additional 1,684,646 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABNB shares. Susquehanna dropped their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. Barclays cut their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. B. Riley cut their price objective on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $134.48.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $148.68, for a total transaction of $17,155,441.80. Following the completion of the transaction, the chief executive officer now owns 14,029,687 shares of the company’s stock, valued at approximately $2,085,933,863.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $149.90, for a total value of $89,940.00. Following the sale, the chief technology officer now owns 209,974 shares of the company’s stock, valued at approximately $31,475,102.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $148.68, for a total value of $17,155,441.80. Following the transaction, the chief executive officer now owns 14,029,687 shares of the company’s stock, valued at $2,085,933,863.16. The disclosure for this sale can be found here. In the last three months, insiders sold 451,932 shares of company stock valued at $67,643,949. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $115.12 on Wednesday. The stock has a market capitalization of $74.14 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.52 and a beta of 1.16. The business has a 50-day moving average of $130.28 and a two-hundred day moving average of $146.46. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (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 for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

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.