Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Josh Arnold Investment Consultant LLC

Josh Arnold Investment Consultant LLC trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 29.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,465 shares of the company’s stock after selling 3,950 shares during the quarter. Airbnb makes up about 1.0% of Josh Arnold Investment Consultant LLC’s holdings, making the stock its 6th biggest position. Josh Arnold Investment Consultant LLC’s holdings in Airbnb were worth $1,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. New Millennium Group LLC acquired a new stake in shares of Airbnb during the second quarter worth about $28,000. Cultivar Capital Inc. purchased a new position in shares of Airbnb in the 2nd quarter valued at approximately $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its stake in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Airbnb during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $136.11 on Friday. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company’s 50 day simple moving average is $134.15 and its 200 day simple moving average is $135.32. The company has a market capitalization of $86.29 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 1.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for 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 period in the prior year, the company earned $2.39 EPS. On average, sell-side analysts predict that Airbnb, Inc. will post 4.02 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the transaction, the chief executive officer now owns 12,616,300 shares in the company, valued at approximately $1,765,525,022. This trade represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares of the company’s stock, valued at $23,501,280. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 718,017 shares of company stock valued at $91,842,052. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ABNB shares. Bank of America reiterated a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Airbnb in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barclays boosted their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets reduced their price target on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus 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.