Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8.6% in the third quarter, HoldingsChannel.com reports. The firm owned 109,145 shares of the company’s stock after selling 10,256 shares during the period. PNC Financial Services Group Inc.’s holdings in Airbnb were worth $13,841,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Parnassus Investments LLC grew its holdings in Airbnb by 67.2% during the third quarter. Parnassus Investments LLC now owns 7,781 shares of the company’s stock worth $987,000 after acquiring an additional 3,127 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Airbnb during the 3rd quarter valued at about $4,587,000. Fifth Third Wealth Advisors LLC grew its stake in shares of Airbnb by 9.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,013 shares of the company’s stock worth $509,000 after purchasing an additional 345 shares during the last quarter. MKA Charitable Fund raised its holdings in shares of Airbnb by 17.2% in the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after purchasing an additional 296,153 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Airbnb by 3,643.9% during the third quarter. Quest Partners LLC now owns 2,134 shares of the company’s stock valued at $271,000 after purchasing an additional 2,077 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Up 3.1 %

Shares of ABNB stock opened at $137.34 on Friday. The company has a market capitalization of $87.07 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 1.86 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The stock’s 50 day simple moving average is $132.73 and its 200 day simple moving average is $135.86. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm posted $2.39 earnings per share. As a group, research analysts predict that Airbnb, Inc. will post 4.04 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at $2,259,958.40. This represents a 41.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 641,094 shares of company stock valued at $81,077,447 in the last quarter. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Susquehanna lifted their target price on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a report on Monday, November 11th. Piper Sandler upped their target price on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Raymond James assumed coverage on shares of Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective for the company. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $138.97.

Airbnb 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.