Intech Investment Management LLC Decreases Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Intech Investment Management LLC trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 39.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,367 shares of the company’s stock after selling 16,346 shares during the quarter. Intech Investment Management LLC’s holdings in Airbnb were worth $3,251,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABNB. JNBA Financial Advisors purchased a new stake in shares of Airbnb during the first quarter valued at about $25,000. Key Financial Inc purchased a new position in shares of Airbnb in the 1st quarter valued at approximately $25,000. Beacon Capital Management LLC purchased a new position in shares of Airbnb in the 2nd quarter valued at approximately $27,000. WealthPLAN Partners LLC purchased a new position in shares of Airbnb in the 1st quarter valued at approximately $33,000. Finally, Institutional & Family Asset Management LLC raised its position in shares of Airbnb by 36.9% in the 2nd quarter. Institutional & Family Asset Management LLC now owns 323 shares of the company’s stock valued at $41,000 after purchasing an additional 87 shares during the last quarter. 44.19% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Up 1.3 %

Shares of ABNB stock opened at $128.35 on Thursday. The stock’s fifty day moving average is $128.34 and its two-hundred day moving average is $127.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $83.23 billion, a P/E ratio of 15.52, a PEG ratio of 1.45 and a beta of 1.26. Airbnb, Inc. has a fifty-two week low of $81.91 and a fifty-two week high of $154.95.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ABNB shares. DA Davidson increased their price objective on shares of Airbnb from $140.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, August 4th. JPMorgan Chase & Co. cut their price target on shares of Airbnb from $130.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Tigress Financial reiterated a “buy” rating and issued a $185.00 price target on shares of Airbnb in a report on Tuesday, August 22nd. Morgan Stanley cut their price target on shares of Airbnb from $110.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, November 2nd. Finally, Melius started coverage on shares of Airbnb in a report on Monday, July 31st. They issued a “neutral” rating and a $160.00 price target on the stock. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $142.97.

Insider Buying and Selling at Airbnb

In other news, CAO David C. Bernstein sold 13,814 shares of Airbnb stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $136.55, for a total transaction of $1,886,301.70. Following the transaction, the chief accounting officer now owns 45,013 shares in the company, valued at approximately $6,146,525.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Catherine C. Powell sold 2,411 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $124.25, for a total transaction of $299,566.75. Following the completion of the sale, the insider now directly owns 113,213 shares of the company’s stock, valued at approximately $14,066,715.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David C. Bernstein sold 13,814 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $136.55, for a total value of $1,886,301.70. Following the sale, the chief accounting officer now directly owns 45,013 shares of the company’s stock, valued at $6,146,525.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 686,923 shares of company stock worth $92,478,060. Corporate insiders own 30.84% 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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.