Madison Asset Management LLC Sells 29,532 Shares of Airbnb, Inc. $ABNB

Madison Asset Management LLC lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 8.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 332,791 shares of the company’s stock after selling 29,532 shares during the quarter. Madison Asset Management LLC owned 0.05% of Airbnb worth $42,025,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI boosted its position in shares of Airbnb by 1.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after acquiring an additional 76 shares during the period. Patton Fund Management Inc. increased its position in Airbnb by 4.3% during the fourth quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock worth $254,000 after acquiring an additional 77 shares during the period. BOKF NA raised its stake in Airbnb by 11.0% during the 4th quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after purchasing an additional 78 shares during the last quarter. Yoder Wealth Management Inc. raised its stake in Airbnb by 0.3% during the 4th quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock valued at $3,582,000 after purchasing an additional 84 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Airbnb by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after purchasing an additional 86 shares during the period. 80.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABNB has been the topic of several research analyst reports. Susquehanna boosted their price objective on shares of Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Friday, May 8th. The Goldman Sachs Group set a $155.00 target price on shares of Airbnb in a research note on Monday. Weiss Ratings raised Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. CICC Research assumed coverage on Airbnb in a research report on Friday, June 5th. They set an “outperform” rating and a $165.00 target price on the stock. Finally, Tigress Financial cut their price target on Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.65.

Airbnb Trading Down 0.7%

Shares of ABNB opened at $144.94 on Tuesday. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $150.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $139.29 and a 200-day simple moving average of $134.46. The stock has a market cap of $87.36 billion, a PE ratio of 35.70, a PEG ratio of 1.56 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm earned $0.24 EPS. Airbnb’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Airbnb, Inc. will post 4.92 EPS for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 88,366 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total value of $12,884,646.46. Following the sale, the insider owned 12,370 shares in the company, valued at approximately $1,803,669.70. The trade was a 87.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 294,903 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the sale, the director directly owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,256,652 shares of company stock valued at $312,089,856. 27.21% of the stock is currently owned by company insiders.

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.