Airbnb, Inc. (NASDAQ:ABNB) Stake Lowered by Westside Investment Management Inc.

Westside Investment Management Inc. decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 550 shares of the company’s stock after selling 100 shares during the quarter. Westside Investment Management Inc.’s holdings in Airbnb were worth $72,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Edgewood Management LLC grew its position in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after purchasing an additional 146,761 shares during the period. Pacer Advisors Inc. raised its position in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after buying an additional 153,784 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after acquiring an additional 52,358 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at $1,352,876.68. The trade was a 95.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $135.33, for a total transaction of $81,198.00. Following the completion of the transaction, the chief technology officer now owns 192,244 shares in the company, valued at $26,016,380.52. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,130,382 shares of company stock valued at $150,441,919 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $132.50 on Thursday. The stock’s 50 day simple moving average is $134.10 and its 200-day simple moving average is $131.55. The stock has a market cap of $84.00 billion, a PE ratio of 46.49, a P/E/G ratio of 1.83 and a beta of 1.13. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. 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 released 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 analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the business earned $2.39 earnings per share. Sell-side analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on ABNB. Truist Financial reduced their price objective on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Cantor Fitzgerald restated an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a report on Monday, October 7th. Morgan Stanley lifted their price target on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Jefferies Financial Group raised their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.63.

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.