Procyon Advisors LLC Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Procyon Advisors LLC decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,592 shares of the company’s stock after selling 233 shares during the quarter. Procyon Advisors LLC’s holdings in Airbnb were worth $329,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new stake in Airbnb during the first quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in shares of Airbnb during the 4th quarter valued at about $27,000. New Millennium Group LLC bought a new stake in Airbnb in the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. purchased a new stake in Airbnb in the second quarter worth approximately $30,000. Finally, Westend Capital Management LLC bought a new position in Airbnb during the first quarter valued at approximately $33,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Performance

Airbnb stock opened at $135.15 on Thursday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. 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 company has a market capitalization of $87.04 billion, a P/E ratio of 18.09, a PEG ratio of 1.83 and a beta of 1.17. The stock’s 50 day moving average is $122.31 and its 200 day moving average is $140.30.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during 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 company’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. On average, equities research analysts predict that Airbnb, Inc. will post 4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 600,356 shares of company stock worth $79,180,338. 27.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. TD Cowen reduced their price objective on Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Raymond James started coverage on Airbnb in a research note on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price for the company. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their price objective on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $134.55.

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.