Airbnb, Inc. (NASDAQ:ABNB) Holdings Trimmed by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 48.2% in the first quarter, Holdings Channel.com reports. The firm owned 7,455 shares of the company’s stock after selling 6,948 shares during the period. Atlantic Union Bankshares Corp’s holdings in Airbnb were worth $1,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Airbnb by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after acquiring an additional 10,301,746 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the period. Norges Bank purchased a new stake in shares of Airbnb in the fourth quarter worth approximately $619,584,000. Legal & General Group Plc boosted its holdings in shares of Airbnb by 5.0% during the third quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock worth $352,466,000 after purchasing an additional 121,651 shares during the period. Finally, Alphinity Investment Management Pty Ltd grew its position in Airbnb by 48.3% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock valued at $339,926,000 after purchasing an additional 813,074 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total value of $6,750,299.60. Following the sale, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $161.55, for a total value of $96,930.00. Following the transaction, the chief technology officer now owns 222,304 shares of the company’s stock, valued at approximately $35,913,211.20. The disclosure for this sale can be found here. Insiders have sold 413,287 shares of company stock worth $61,071,555 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Up 0.0 %

ABNB stock opened at $151.63 on Friday. Airbnb, Inc. has a twelve month low of $113.24 and a twelve month high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a market cap of $97.66 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The business’s 50-day simple moving average is $150.43 and its 200 day simple moving average is $150.91.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. On average, research analysts anticipate that Airbnb, Inc. will post 4.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABNB. Wedbush upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $165.00 in a research report on Tuesday, May 28th. DA Davidson reiterated a “neutral” rating and set a $145.00 price objective on shares of Airbnb in a report on Thursday, May 9th. B. Riley began coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price on the stock. Citigroup cut their price target on Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Wells Fargo & Company boosted their price target on Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a research note on Monday, April 1st. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $152.38.

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.