HM Payson & Co. Reduces Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

HM Payson & Co. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 48.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 210 shares of the company’s stock after selling 200 shares during the period. HM Payson & Co.’s holdings in Airbnb were worth $27,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Transcendent Capital Group LLC acquired a new stake in Airbnb in the first quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in shares of Airbnb during the third quarter worth about $25,000. New Millennium Group LLC acquired a new position in Airbnb in the second quarter worth about $28,000. Cultivar Capital Inc. bought a new stake in Airbnb in the second quarter valued at about $30,000. Finally, Heritage Wealth Advisors raised its stake in Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total value of $75,942.00. Following the completion of the sale, the chief technology officer now directly owns 205,774 shares of the company’s stock, valued at approximately $26,044,815.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total value of $75,942.00. Following the sale, the chief technology officer now directly owns 205,774 shares of the company’s stock, valued at approximately $26,044,815.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 418,406 shares of company stock worth $51,885,773. 27.83% of the stock is owned by corporate insiders.

Airbnb Stock Up 1.2 %

Shares of Airbnb stock opened at $136.46 on Friday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market capitalization of $87.56 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.15. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average is $126.86 and its 200-day moving average is $138.22.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Airbnb, Inc. will post 4.17 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABNB shares. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a report on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Susquehanna cut their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. Finally, Piper Sandler decreased their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $135.35.

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.