Farther Finance Advisors LLC Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Farther Finance Advisors LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,635 shares of the company’s stock after selling 338 shares during the period. Farther Finance Advisors LLC’s holdings in Airbnb were worth $334,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC bought a new position in Airbnb in the 1st quarter worth about $265,292,000. International Assets Investment Management LLC increased its stake in Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after acquiring an additional 1,113,747 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Airbnb in the 1st quarter worth about $175,496,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets dropped their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Bank of America reiterated a “hold” rating and issued a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a report on Friday, October 11th. JPMorgan Chase & Co. increased their target price on Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays increased their target price on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $139.26.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $1,596,322.00. Following the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,259,958.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 417,806 shares of company stock valued at $51,809,831. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of ABNB opened at $134.61 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The stock has a market cap of $86.37 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.93 and a beta of 1.15. 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 firm has a fifty day moving average price of $128.79 and a 200 day moving average price of $137.88.

Airbnb (NASDAQ:ABNB) last announced 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). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company posted $0.98 earnings per share. Airbnb’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.17 EPS for the current 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.