Pinnacle Associates Ltd. Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Pinnacle Associates Ltd. reduced its stake in Airbnb, Inc. (NASDAQ:ABNBFree Report) by 20.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,225 shares of the company’s stock after selling 572 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Airbnb were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ABNB. Mirae Asset Global Investments Co. Ltd. raised its position in Airbnb by 9.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 772,642 shares of the company’s stock valued at $132,709,000 after buying an additional 63,601 shares during the last quarter. TradeLink Capital LLC purchased a new stake in shares of Airbnb during the 1st quarter valued at $945,000. Synovus Financial Corp increased its position in shares of Airbnb by 22.5% during the 1st quarter. Synovus Financial Corp now owns 1,490 shares of the company’s stock valued at $256,000 after purchasing an additional 274 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Airbnb by 27.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,519 shares of the company’s stock valued at $433,000 after purchasing an additional 549 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Airbnb during the 1st quarter valued at $2,125,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABNB. Mizuho raised their target price on Airbnb from $130.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Piper Sandler raised their target price on Airbnb from $136.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Barclays raised their target price on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, January 29th. Royal Bank of Canada raised their target price on Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Truist Financial lifted their price objective on Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Airbnb has a consensus rating of “Hold” and an average target price of $145.83.

Get Our Latest Research Report on ABNB

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 36,667 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $140.05, for a total transaction of $5,135,213.35. Following the completion of the transaction, the chief executive officer now owns 15,246,330 shares of the company’s stock, valued at $2,135,248,516.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeffrey D. Jordan sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $140.00, for a total value of $280,000.00. Following the completion of the sale, the director now owns 159,646 shares in the company, valued at approximately $22,350,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 36,667 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $140.05, for a total value of $5,135,213.35. Following the completion of the sale, the chief executive officer now owns 15,246,330 shares of the company’s stock, valued at approximately $2,135,248,516.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 705,836 shares of company stock valued at $106,696,980. 30.84% of the stock is owned by corporate insiders.

Airbnb Stock Down 0.5 %

Shares of NASDAQ ABNB opened at $159.34 on Thursday. Airbnb, Inc. has a 12 month low of $103.55 and a 12 month high of $170.10. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $103.10 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.07 and a beta of 1.25. The business has a 50-day moving average of $156.58 and a 200-day moving average of $140.30.

Airbnb (NASDAQ:ABNBGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Sell-side analysts expect that Airbnb, Inc. will post 4.68 earnings per share for the current fiscal year.

Airbnb Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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