Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 47.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 972,363 shares of the company’s stock after selling 867,892 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.15% of Airbnb worth $147,439,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC increased its position in Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after acquiring an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD grew its position in 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 valued at $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Edgewood Management LLC grew its position in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares during the period. Finally, Farallon Capital Management LLC purchased a new position in Airbnb during the 1st quarter worth $265,292,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Trading Down 0.8 %

Shares of Airbnb stock opened at $128.25 on Friday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The business’s fifty day moving average is $123.75 and its two-hundred day moving average is $143.58. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market cap of $82.60 billion, a PE ratio of 17.17, a P/E/G ratio of 1.72 and a beta of 1.16.

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

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $130.58, for a total transaction of $78,348.00. Following the completion of the transaction, the chief technology officer now owns 195,244 shares of the company’s stock, valued at $25,494,961.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $130.58, for a total transaction of $78,348.00. Following the completion of the sale, the chief technology officer now directly owns 195,244 shares of the company’s stock, valued at approximately $25,494,961.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 80,000 shares of the 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 in the company, valued at $30,951,359.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 552,989 shares of company stock valued at $75,824,030. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABNB shares. Truist Financial dropped their price target on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their price target on Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Piper Sandler dropped their price objective on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their target price 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, nineteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average price target of $134.16.

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.