E Fund Management Co. Ltd. Sells 3,620 Shares of Airbnb, Inc. (NASDAQ:ABNB)

E Fund Management Co. Ltd. cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 39.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,469 shares of the company’s stock after selling 3,620 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Airbnb were worth $829,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after purchasing an additional 791,149 shares during the last quarter. Edgewood Management LLC raised its position in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Jennison Associates LLC raised its position in Airbnb by 57.9% in the first 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in Airbnb by 1.6% in the first quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock valued at $418,341,000 after purchasing an additional 39,129 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Up 0.2 %

Shares of Airbnb stock opened at $122.42 on Thursday. 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, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The stock has a 50 day moving average price of $126.26 and a two-hundred day moving average price of $145.03. The stock has a market capitalization of $78.84 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction on Monday, June 24th. The stock was sold at an average price of $148.68, for a total transaction of $17,155,441.80. Following the sale, the chief executive officer now directly owns 14,029,687 shares in the company, valued at $2,085,933,863.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the sale, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The disclosure for this sale can be found here. Insiders have sold 449,332 shares of company stock worth $67,263,009 over the last 90 days. 27.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on ABNB. BMO Capital Markets dropped their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Barclays decreased their price target on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley increased their price target on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price target on Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $134.17.

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.