Intech Investment Management LLC Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Intech Investment Management LLC decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 33.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,529 shares of the company’s stock after selling 1,738 shares during the period. Intech Investment Management LLC’s holdings in Airbnb were worth $448,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after purchasing an additional 153,784 shares in the last quarter. MKA Charitable Fund grew its stake in shares of Airbnb by 17.2% during the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after buying an additional 296,153 shares during the period. Farallon Capital Management LLC increased 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 buying an additional 92,780 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Airbnb by 19,052.8% in the second 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 in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Airbnb by 8.1% during the 2nd quarter. Swedbank AB now owns 1,150,371 shares of the company’s stock valued at $174,431,000 after acquiring an additional 86,502 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb 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 $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 718,017 shares of company stock worth $91,842,052. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

NASDAQ ABNB opened at $137.49 on Tuesday. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a fifty day simple moving average of $134.15 and a 200 day simple moving average of $135.25. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market cap of $87.16 billion, a P/E ratio of 47.95, a P/E/G ratio of 1.93 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. On average, sell-side analysts predict that Airbnb, Inc. will post 4.02 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on ABNB shares. DA Davidson raised their target price on Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Argus lowered shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Jefferies Financial Group upped their price objective on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird raised their price target on Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.97.

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.