Graypoint LLC Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

Graypoint LLC trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB) by 16.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,622 shares of the company’s stock after selling 894 shares during the period. Graypoint LLC’s holdings in Airbnb were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Airbnb by 158.1% in 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 during the period. Assenagon Asset Management S.A. lifted its holdings in Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after purchasing an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC bought a new position in shares of Airbnb in the first quarter worth approximately $265,292,000. International Assets Investment Management LLC increased its stake in shares of Airbnb by 19,430.3% in the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after purchasing an additional 1,113,747 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Airbnb in the 1st quarter worth $175,496,000. 80.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ABNB. JPMorgan Chase & Co. boosted their price objective on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday. Robert W. Baird increased their price objective on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley boosted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Argus cut shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Airbnb has an average rating of “Hold” and a consensus price target of $139.26.

Airbnb Stock Performance

ABNB stock opened at $134.61 on Friday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The firm has a market cap of $86.37 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.93 and a beta of 1.15. The business’s fifty day simple moving average is $128.79 and its two-hundred day simple moving average is $137.88. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted 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 company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Analysts predict that Airbnb, Inc. will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 of the company’s stock, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,806 shares of company stock worth $51,809,831 in the last three months. Corporate insiders own 27.83% of the company’s stock.

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.