Airbnb, Inc. (NASDAQ:ABNB) Stake Cut by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.9% in the second quarter, HoldingsChannel reports. The fund owned 4,377 shares of the company’s stock after selling 130 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Airbnb were worth $664,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Lazari Capital Management Inc. increased its stake in Airbnb by 3.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 2,517 shares of the company’s stock valued at $382,000 after buying an additional 88 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Airbnb during the second quarter worth $7,342,000. New Century Financial Group LLC acquired a new stake in Airbnb during the second quarter valued at $238,000. Aristides Capital LLC increased its position in Airbnb by 11.2% in the 2nd quarter. Aristides Capital LLC now owns 9,950 shares of the company’s stock worth $1,509,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Garde Capital Inc. raised its stake in shares of Airbnb by 903.7% during the 2nd quarter. Garde Capital Inc. now owns 7,287 shares of the company’s stock worth $1,105,000 after purchasing an additional 6,561 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Down 1.1 %

Shares of NASDAQ:ABNB opened at $125.47 on Wednesday. The company has a market capitalization of $80.81 billion, a PE ratio of 16.80, a P/E/G ratio of 1.72 and a beta of 1.16. 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 company’s fifty day moving average is $122.82 and its 200-day moving average is $142.74. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts predict that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $130.58, for a total value of $78,348.00. Following the completion of the transaction, the chief technology officer now directly owns 195,244 shares of the company’s stock, valued at $25,494,961.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated 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 directly owns 537,072 shares in the company, valued at approximately $64,448,640. The disclosure for this sale can be found here. Insiders sold 552,389 shares of company stock valued at $75,733,256 over the last ninety days. 27.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ABNB. UBS Group cut their price objective on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Raymond James began coverage on shares of Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective for the company. Wedbush cut their target price on Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays reduced their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Five 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, the company has a consensus rating of “Hold” and a consensus price target of $134.16.

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.