Bessemer Group Inc. Sells 177,059 Shares of Airbnb, Inc. $ABNB

Bessemer Group Inc. lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 93.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,389 shares of the company’s stock after selling 177,059 shares during the quarter. Bessemer Group Inc.’s holdings in Airbnb were worth $1,639,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. DDD Partners LLC lifted its stake in Airbnb by 3.9% in the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock valued at $270,000 after buying an additional 76 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Airbnb by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock valued at $604,000 after acquiring an additional 78 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after acquiring an additional 80 shares during the period. Koshinski Asset Management Inc. raised its position in shares of Airbnb by 4.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after acquiring an additional 83 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after acquiring an additional 83 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of the transaction, the chief financial officer owned 444,070 shares in the company, valued at approximately $56,685,535.50. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the completion of the transaction, the director directly owned 15 shares of the company’s stock, valued at approximately $1,880.40. This trade represents a 99.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,682,160 shares of company stock valued at $210,262,707. Insiders own 27.91% of the company’s stock.

Airbnb Price Performance

ABNB opened at $126.34 on Friday. The company has a market capitalization of $78.51 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.30 and a beta of 1.10. The business’s 50-day moving average price is $124.62 and its two-hundred day moving average price is $128.27. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ABNB shares. JPMorgan Chase & Co. upped their target price on shares of Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Wedbush lowered their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Mizuho began coverage on Airbnb in a report on Monday, September 29th. They set an “outperform” rating and a $151.00 target price on the stock. Truist Financial decreased their target price on Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada raised their price target on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Airbnb has an average rating of “Hold” and a consensus price target of $141.70.

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.