Airbnb, Inc. $ABNB Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 57.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,854 shares of the company’s stock after selling 9,175 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Airbnb were worth $832,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Harris Associates L P raised its stake in Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Norges Bank acquired a new stake in shares of Airbnb in the 2nd quarter valued at $483,644,000. Amundi increased its holdings in shares of Airbnb by 112.3% during the 2nd quarter. Amundi now owns 2,670,251 shares of the company’s stock valued at $361,525,000 after acquiring an additional 1,412,608 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Airbnb during the 2nd quarter worth $170,189,000. Finally, Bank of Nova Scotia grew its position in shares of Airbnb by 1,232.7% in the second quarter. Bank of Nova Scotia now owns 956,188 shares of the company’s stock valued at $126,542,000 after purchasing an additional 884,439 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

Airbnb stock opened at $131.77 on Friday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a 50-day simple moving average of $130.26 and a 200 day simple moving average of $127.53. The stock has a market capitalization of $81.11 billion, a P/E ratio of 31.30, a PEG ratio of 2.04 and a beta of 1.09.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Airbnb from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $117.00 to $141.00 in a report on Thursday, January 8th. Truist Financial raised their target price on Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research note on Thursday, December 4th. Sanford C. Bernstein dropped their price target on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Airbnb in a research note on Wednesday, January 14th. Finally, UBS Group set a $130.00 price objective on shares of Airbnb in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $147.84.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 141,063 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the completion of the sale, the insider owned 11,520 shares of the company’s stock, valued at $1,404,979.20. This represents a 92.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction that occurred 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. The trade was a 50.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,202,272 shares of company stock worth $148,094,596. Company 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.