Sentry Investment Management LLC Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Sentry Investment Management LLC reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,160 shares of the company’s stock after selling 237 shares during the quarter. Sentry Investment Management LLC’s holdings in Airbnb were worth $176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after acquiring an additional 791,149 shares in the last quarter. Edgewood Management LLC increased its holdings in Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares in the last quarter. Jennison Associates LLC increased its holdings in Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after acquiring 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 first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Airbnb during the fourth quarter worth about $619,584,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Up 1.2 %

Airbnb stock opened at $117.36 on Friday. The company has a 50-day simple moving average of $128.84 and a 200-day simple moving average of $146.05. The firm has a market capitalization of $75.59 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate 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 return on equity of 34.74% and a net margin of 46.11%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, equities analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Barclays lowered their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. UBS Group lowered their price target on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered their price target on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $134.48.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $17,205,057.35. Following the completion of the transaction, the chief executive officer now owns 13,798,917 shares in the company, valued at approximately $2,057,556,513.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares in the company, valued at $23,579,141.36. The disclosure for this sale can be found here. Insiders sold 449,932 shares of company stock worth $67,352,949 in the last 90 days. Corporate insiders own 27.83% of the company’s stock.

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.