Airbnb, Inc. $ABNB Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 69.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,882 shares of the company’s stock after selling 10,885 shares during the quarter. Townsquare Capital LLC’s holdings in Airbnb were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. grew 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 valued at $26,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners acquired a new stake in shares of Airbnb during the second quarter worth about $28,000. Whipplewood Advisors LLC lifted its holdings in shares of Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after purchasing an additional 160 shares during the period. Root Financial Partners LLC purchased a new stake in Airbnb in the third quarter valued at approximately $32,000. Finally, NewSquare Capital LLC increased its holdings in Airbnb by 86.4% in the 2nd quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock worth $38,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $129.37 on Friday. The company has a fifty day moving average of $130.57 and a two-hundred day moving average of $127.47. The stock has a market capitalization of $79.63 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.04 and a beta of 1.09. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

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

Analyst Ratings Changes

Several brokerages have commented on ABNB. BNP Paribas Exane started coverage on shares of Airbnb in a research note on Monday, November 24th. They set a “hold” rating for the company. Barclays set a $120.00 target price on shares of Airbnb and gave the stock an “equal weight” rating in a report on Friday, January 9th. KeyCorp assumed coverage on shares of Airbnb in a report on Thursday, October 23rd. They issued a “sector weight” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, January 21st. Finally, DA Davidson reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $147.84.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 51,230 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was 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 in the company, valued at $6,014,210.64. The trade was a 52.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 141,063 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $121.96, for a total value of $17,204,043.48. Following the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at approximately $1,404,979.20. The trade was a 92.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,202,272 shares of company stock worth $148,094,596. 27.91% of the stock is owned by corporate insiders.

Airbnb Profile

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.