Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,098 shares of the company’s stock after selling 314 shares during the period. Insigneo Advisory Services LLC’s holdings in Airbnb were worth $1,076,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABNB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Airbnb by 62.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 84,655 shares of the company’s stock worth $12,836,000 after acquiring an additional 32,383 shares during the period. Distillate Capital Partners LLC acquired a new position in shares of Airbnb in the 2nd quarter valued at $19,835,000. Farallon Capital Management LLC grew its holdings in shares of Airbnb by 5.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock worth $257,923,000 after purchasing an additional 92,780 shares during the period. Xponance Inc. increased its position in shares of Airbnb by 2.8% during the 2nd quarter. Xponance Inc. now owns 101,522 shares of the company’s stock worth $15,394,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Tairen Capital Ltd raised its holdings in Airbnb by 100.0% in the 2nd quarter. Tairen Capital Ltd now owns 10,000 shares of the company’s stock valued at $1,516,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $130.71 on Thursday. The firm has a market capitalization of $83.87 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.16. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s 50-day simple moving average is $124.50 and its 200-day simple moving average is $143.92.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $2.74 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elinor Mertz sold 6,250 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 $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares in the company, valued at approximately $64,448,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $151.29, for a total transaction of $90,774.00. Following the completion of the sale, the chief technology officer now owns 208,774 shares in the company, valued at approximately $31,585,418.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief financial officer now owns 537,072 shares in the company, valued at $64,448,640. The disclosure for this sale can be found here. In the last three months, insiders sold 552,389 shares of company stock valued at $75,745,682. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered their price objective on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays cut their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a report on Monday, August 26th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.17.

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.