Truist Financial Corp Lowers Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Truist Financial Corp lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 97.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 45,410 shares of the company’s stock after selling 2,138,143 shares during the period. Truist Financial Corp’s holdings in Airbnb were worth $5,967,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. CAP Partners LLC boosted its position in Airbnb by 3.6% during the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock worth $293,000 after purchasing an additional 77 shares in the last quarter. Manchester Capital Management LLC boosted its position in Airbnb by 18.2% during the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock worth $69,000 after purchasing an additional 81 shares in the last quarter. Salvus Wealth Management LLC lifted its position in shares of Airbnb by 2.5% in the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after acquiring an additional 84 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Airbnb by 19.3% in the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock valued at $74,000 after acquiring an additional 94 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of Airbnb by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock valued at $468,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 5.9 %

Airbnb stock opened at $146.07 on Friday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market capitalization of $92.10 billion, a P/E ratio of 35.37, a PEG ratio of 3.74 and a beta of 1.12. The stock has a 50-day simple moving average of $135.45 and a 200-day simple moving average of $130.97.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the transaction, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 76,923 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the transaction, the chief executive officer now owns 12,616,300 shares in the company, valued at $1,765,525,022. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,950,540 shares of company stock worth $275,598,944 in the last quarter. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

ABNB has been the topic of several research reports. Canaccord Genuity Group raised their target price on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. TD Cowen raised their target price on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, November 8th. DA Davidson raised their target price on Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Evercore ISI raised their target price on Airbnb to $155.00 and gave the company a “hold” rating in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $146.48.

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.