Meitav Investment House Ltd. Trims Holdings in Airbnb, Inc. $ABNB

Meitav Investment House Ltd. reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,658 shares of the company’s stock after selling 7,437 shares during the quarter. Meitav Investment House Ltd.’s holdings in Airbnb were worth $5,058,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. DDD Partners LLC lifted its stake in Airbnb by 3.9% during the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock worth $270,000 after purchasing an additional 76 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted 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 in the last quarter. SBI Securities Co. Ltd. lifted its stake in Airbnb by 0.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock worth $1,396,000 after acquiring an additional 85 shares in the last quarter. Brookstone Capital Management boosted its holdings in Airbnb by 4.0% during the 3rd quarter. Brookstone Capital Management now owns 2,350 shares of the company’s stock valued at $285,000 after acquiring an additional 91 shares during the period. Finally, IFP Advisors Inc grew its position in Airbnb by 4.3% in the 2nd quarter. IFP Advisors Inc now owns 2,398 shares of the company’s stock valued at $317,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $130.66 on Friday. The stock has a market cap of $80.43 billion, a PE ratio of 31.04, a P/E/G ratio of 2.03 and a beta of 1.09. The stock’s fifty day moving average is $127.80 and its two-hundred day moving average is $127.74. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS. On average, research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Mizuho set a $156.00 price objective on shares of Airbnb in a research note on Friday, November 7th. BNP Paribas Exane started coverage on shares of Airbnb in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Cantor Fitzgerald upgraded Airbnb from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $117.00 to $141.00 in a research note on Thursday, January 8th. Wells Fargo & Company set a $128.00 target price on Airbnb and gave the stock an “equal weight” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group upped their price target on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty-one have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $147.84.

Insider Activity

In related news, CEO Brian Chesky sold 51,230 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total value of $6,719,326.80. Following the completion of the sale, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at $6,014,210.64. The trade was a 52.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $120.66, for a total transaction of $28,475,760.00. Following the completion of the transaction, the director owned 232,015 shares of the company’s stock, valued at $27,994,929.90. This represents a 50.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,401,156 shares of company stock worth $173,365,363. Corporate insiders own 27.91% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.