Plato Investment Management Ltd Decreases Position in Airbnb, Inc. (NASDAQ:ABNB)

Plato Investment Management Ltd cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 32.5% during the third quarter, HoldingsChannel reports. The firm owned 9,105 shares of the company’s stock after selling 4,388 shares during the quarter. Plato Investment Management Ltd’s holdings in Airbnb were worth $1,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. Transcendent Capital Group LLC purchased a new stake in Airbnb during the first quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Airbnb during the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its position in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. New Millennium Group LLC purchased a new stake in Airbnb during the second quarter valued at approximately $28,000. Finally, Cultivar Capital Inc. bought a new position in shares of Airbnb during the second quarter valued at approximately $30,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABNB shares. The Goldman Sachs Group cut their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. TD Cowen upped their target price on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Finally, Phillip Securities reaffirmed a “reduce” rating and set a $120.00 target price on shares of Airbnb in a research note on Tuesday. Six analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $139.31.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction dated 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 transaction, the director now owns 16,472 shares in the company, valued at approximately $2,259,958.40. This trade represents a 41.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 417,806 shares of company stock worth $51,809,831 in the last 90 days. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $134.56 on Friday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a fifty day moving average price of $130.62 and a 200-day moving average price of $136.94. 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 firm has a market cap of $86.34 billion, a PE ratio of 47.21, a P/E/G ratio of 1.88 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) 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 analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the business earned $2.39 EPS. Equities research analysts predict that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

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.