Castleview Partners LLC Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Castleview Partners LLC reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,684 shares of the company’s stock after selling 95 shares during the period. Castleview Partners LLC’s holdings in Airbnb were worth $467,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SteelPeak Wealth LLC lifted its holdings in shares of Airbnb by 17.2% in the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after acquiring an additional 985 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Airbnb by 20.6% in the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after purchasing an additional 83,383 shares in the last quarter. Shellback Capital LP purchased a new stake in shares of Airbnb during the second quarter worth $22,744,000. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Airbnb by 1,231.3% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after buying an additional 19,183 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Airbnb by 2.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock worth $182,335,000 after acquiring an additional 26,735 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABNB shares. Mizuho cut their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Barclays reduced their price objective on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. TD Cowen cut their price target on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Airbnb presently has an average rating of “Hold” and an average target price of $134.55.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the sale, the director now owns 16,472 shares in the company, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 405,571 shares of company stock valued at $50,126,587 over the last 90 days. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of ABNB traded up $0.07 during mid-day trading on Monday, reaching $136.52. 645,724 shares of the company’s stock were exchanged, compared to its average volume of 4,431,154. 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 $87.92 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.83 and a beta of 1.17. The company has a 50-day simple moving average of $123.17 and a two-hundred day simple moving average of $139.81.

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