Mengis Capital Management Inc. Decreases Position in Airbnb, Inc. (NASDAQ:ABNB)

Mengis Capital Management Inc. lessened its holdings in Airbnb, Inc. (NASDAQ:ABNBFree Report) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,043 shares of the company’s stock after selling 280 shares during the period. Mengis Capital Management Inc.’s holdings in Airbnb were worth $555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in shares of Airbnb by 20.7% during the 2nd quarter. Clearbridge Investments LLC now owns 2,117,669 shares of the company’s stock worth $271,400,000 after purchasing an additional 363,134 shares during the last quarter. LGT Group Foundation lifted its position in shares of Airbnb by 8.1% during the 3rd quarter. LGT Group Foundation now owns 316,545 shares of the company’s stock worth $43,227,000 after purchasing an additional 23,716 shares during the last quarter. Vestor Capital LLC lifted its position in shares of Airbnb by 83.8% during the 2nd quarter. Vestor Capital LLC now owns 86,548 shares of the company’s stock worth $11,092,000 after purchasing an additional 39,452 shares during the last quarter. Chevy Chase Trust Holdings LLC purchased a new stake in shares of Airbnb during the 3rd quarter worth $32,904,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Airbnb in the third quarter valued at $235,338,000. Hedge funds and other institutional investors own 44.19% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ ABNB traded up $6.20 on Monday, hitting $153.80. The company’s stock had a trading volume of 7,868,678 shares, compared to its average volume of 4,322,980. Airbnb, Inc. has a 12-month low of $103.55 and a 12-month high of $157.35. The company has a market capitalization of $99.73 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a 50 day moving average of $141.16 and a 200-day moving average of $134.36.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 2,750 shares of Airbnb stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $141.00, for a total value of $387,750.00. Following the completion of the sale, the chief technology officer now directly owns 159,396 shares of the company’s stock, valued at approximately $22,474,836. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Brian Chesky sold 84,144 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $134.36, for a total value of $11,305,587.84. Following the sale, the chief executive officer now directly owns 15,910,018 shares of the company’s stock, valued at $2,137,670,018.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $141.00, for a total transaction of $387,750.00. Following the completion of the sale, the chief technology officer now directly owns 159,396 shares in the company, valued at $22,474,836. The disclosure for this sale can be found here. Insiders have sold 1,506,731 shares of company stock valued at $208,680,320 over the last quarter. Corporate insiders own 30.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABNB. Evercore ISI cut shares of Airbnb from an “outperform” rating to an “in-line” rating and set a $136.00 price target for the company. in a research report on Friday, November 17th. JPMorgan Chase & Co. dropped their price objective on shares of Airbnb from $130.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. UBS Group lifted their price objective on shares of Airbnb from $125.00 to $148.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Susquehanna dropped their price objective on shares of Airbnb from $165.00 to $160.00 and set a “positive” rating on the stock in a research note on Friday, November 3rd. Finally, Jefferies Financial Group lowered shares of Airbnb from a “buy” rating to a “hold” rating and dropped their price objective for the company from $155.00 to $140.00 in a research note on Wednesday, November 29th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $141.31.

Read Our Latest Report on ABNB

About Airbnb

(Free Report)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

Further Reading

Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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