Blue Trust Inc. Reduces Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Blue Trust Inc. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 67.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,569 shares of the company’s stock after selling 3,266 shares during the period. Blue Trust Inc.’s holdings in Airbnb were worth $199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Miracle Mile Advisors LLC grew its position in shares of Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after purchasing an additional 68 shares in the last quarter. Farrow Financial Inc. boosted its stake in Airbnb by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after purchasing an additional 69 shares during the period. Heritage Wealth Advisors grew its holdings in Airbnb by 55.0% during the 1st 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. GYL Financial Synergies LLC increased its position in shares of Airbnb by 5.0% during the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after buying an additional 76 shares during the period. Finally, HB Wealth Management LLC increased its position in shares of Airbnb by 1.6% during the second quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock valued at $749,000 after buying an additional 76 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $134.58 on Friday. The company has a market capitalization of $86.68 billion, a P/E ratio of 18.02, a PEG ratio of 1.83 and a beta of 1.17. 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 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50 day moving average price of $124.97 and a two-hundred day moving average price of $139.19.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS 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 company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. Analysts expect that Airbnb, Inc. will post 4.33 earnings per share for the current year.

Insider Activity

In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were 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 trade represents a 0.00 % 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 230,769 shares of Airbnb stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,171 shares of company stock valued at $50,208,253. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their price target on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a research report on Monday, October 7th. Royal Bank of Canada reduced their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Susquehanna decreased their target price on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $135.35.

Airbnb 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.