Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 47.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,225 shares of the company’s stock after selling 2,014 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Airbnb were worth $303,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in Airbnb during the 1st quarter worth approximately $25,000. New Millennium Group LLC bought a new stake in shares of Airbnb in the second quarter worth $28,000. Heritage Wealth Advisors raised its holdings in Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in Airbnb during the 1st quarter valued at $33,000. Finally, Cultivar Capital Inc. acquired a new position in Airbnb during the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares in the company, valued at $2,259,958.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now owns 192,244 shares of the company’s stock, valued at $26,016,380.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 418,406 shares of company stock valued at $51,885,773 over the last three months. Company insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABNB. Royal Bank of Canada cut their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley increased their target price on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a report on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $135.35.

Airbnb Trading Up 1.2 %

Airbnb stock opened at $136.46 on Monday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month 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. The stock has a market capitalization of $87.56 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15. The firm has a 50 day simple moving average of $126.86 and a 200-day simple moving average of $138.07.

Airbnb (NASDAQ:ABNB) last issued its quarterly 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 net margin of 46.11% and a return on equity of 34.74%. The firm 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 business posted $0.98 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Airbnb, Inc. will post 4.17 EPS for the current fiscal year.

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.