Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 55.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,461 shares of the company’s stock after selling 3,053 shares during the period. Great Valley Advisor Group Inc.’s holdings in Airbnb were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new position in shares of Airbnb during the third quarter worth $922,000. Edgewood Management LLC lifted its position in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after acquiring an additional 52,358 shares during the last quarter. Pacer Advisors Inc. lifted its position in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in Airbnb in the third quarter valued at $10,180,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Down 1.0 %

ABNB stock opened at $138.28 on Thursday. The company’s 50 day simple moving average is $133.86 and its 200-day simple moving average is $135.47. The firm has a market capitalization of $87.67 billion, a PE ratio of 48.52, a P/E/G ratio of 2.00 and a beta of 1.15. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the company earned $2.39 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABNB. JPMorgan Chase & Co. boosted their price target on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. UBS Group boosted their price target on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Mizuho reduced their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, B. Riley reduced their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $138.97.

Insider Activity

In related news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 718,017 shares of company stock worth $91,842,052 over the last ninety days. 27.83% of the stock is currently owned by insiders.

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.