Airbnb, Inc. $ABNB Stock Position Decreased by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,827 shares of the company’s stock after selling 3,018 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Airbnb were worth $771,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ABNB. Harris Associates L P lifted its holdings in shares of Airbnb by 86.0% in the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after purchasing an additional 2,685,026 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Airbnb in the second quarter valued at $170,189,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $126.34 on Friday. The company has a market capitalization of $78.51 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.30 and a beta of 1.10. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company’s fifty day moving average price is $124.62 and its two-hundred day moving average price is $128.27.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

ABNB has been the subject of a number of research analyst reports. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Wedbush reduced their target price on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Barclays set a $105.00 target price on Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Finally, UBS Group cut their price objective on Airbnb from $148.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $141.70.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 12,184 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $127.65, for a total transaction of $1,555,287.60. Following the transaction, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at $56,685,535.50. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the transaction, the director directly owned 15 shares in the company, valued at $1,880.40. The trade was a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,682,160 shares of company stock worth $210,262,707 over the last three months. Company insiders own 27.91% 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.