Ridgewood Investments LLC Decreases Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Ridgewood Investments LLC cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 18.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 908 shares of the company’s stock after selling 207 shares during the quarter. Ridgewood Investments LLC’s holdings in Airbnb were worth $119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC boosted its stake in Airbnb by 200.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 6,502 shares of the company’s stock valued at $986,000 after acquiring an additional 4,338 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in Airbnb during the 2nd quarter valued at $1,322,000. Oppenheimer & Co. Inc. boosted its stake in Airbnb by 3.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 30,474 shares of the company’s stock valued at $4,621,000 after acquiring an additional 1,099 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Airbnb by 73.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 375 shares of the company’s stock valued at $57,000 after acquiring an additional 159 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in Airbnb by 40.5% during the 2nd quarter. Meeder Advisory Services Inc. now owns 8,106 shares of the company’s stock valued at $1,229,000 after acquiring an additional 2,335 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

NASDAQ:ABNB opened at $129.63 on Friday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a 50-day moving average of $134.98 and a 200-day moving average of $132.80. The firm has a market cap of $82.18 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business earned $2.39 earnings per share. Analysts forecast that Airbnb, Inc. will post 3.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the topic of a number of research analyst reports. Sanford C. Bernstein reduced their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Citigroup increased their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Robert W. Baird increased their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Airbnb in a report on Friday, November 8th. Finally, Bank of America increased their target price on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $139.48.

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 38,460 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $133.97, for a total transaction of $5,152,486.20. Following the completion of the sale, the chief executive officer now directly owns 13,200,529 shares of the company’s stock, valued at $1,768,474,870.13. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 955,057 shares of company stock worth $128,033,252 over the last ninety days. 27.83% of the stock is currently owned by company insiders.

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.