Hartford Investment Management Co. Sells 628 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Hartford Investment Management Co. cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,653 shares of the company’s stock after selling 628 shares during the period. Hartford Investment Management Co.’s holdings in Airbnb were worth $3,507,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABNB. Vanguard Group Inc. boosted its stake in Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Legal & General Group Plc raised its position in 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 purchasing an additional 153,784 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its stake in Airbnb by 1.6% in the first quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock worth $418,341,000 after purchasing an additional 39,129 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABNB. BMO Capital Markets reduced their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Susquehanna dropped their price objective on Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased 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 note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $135.35.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 405,571 shares of company stock valued at $50,126,587 over the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

ABNB stock opened at $131.92 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50 day moving average price of $124.01 and a 200-day moving average price of $139.47. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market capitalization of $84.96 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.83 and a beta of 1.17.

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

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.