Congress Park Capital LLC Sells 8,458 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Congress Park Capital LLC lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 58.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,040 shares of the company’s stock after selling 8,458 shares during the period. Congress Park Capital LLC’s holdings in Airbnb were worth $766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC purchased a new position in Airbnb in the first quarter worth about $25,000. Trust Co. of Vermont purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $27,000. New Millennium Group LLC purchased a new position in shares of Airbnb during the second quarter valued at approximately $28,000. Vima LLC purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $29,000. Finally, Cultivar Capital Inc. purchased a new position in shares of Airbnb during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group dropped their target price on Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Susquehanna lowered their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, JPMorgan Chase & Co. lowered their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $134.55.

Airbnb Price Performance

Shares of ABNB stock traded up $1.64 during mid-day trading on Friday, hitting $134.45. 868,625 shares of the stock were exchanged, compared to its average volume of 4,473,703. The firm has a fifty day moving average of $121.50 and a 200 day moving average of $141.37. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a market cap of $86.27 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that Airbnb, Inc. will post 4.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $130.15, for a total transaction of $78,090.00. Following the completion of the transaction, the chief technology officer now owns 194,044 shares in the company, valued at $25,254,826.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $130.15, for a total value of $78,090.00. Following the completion of the sale, the chief technology officer now owns 194,044 shares in the company, valued at approximately $25,254,826.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 563,496 shares of company stock worth $74,262,814 in the last 90 days. Insiders own 27.83% of the company’s stock.

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.