Airbnb, Inc. $ABNB Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 37.7% in the first quarter, HoldingsChannel.com reports. The firm owned 1,830,841 shares of the company’s stock after selling 1,107,620 shares during the period. Renaissance Technologies LLC’s holdings in Airbnb were worth $231,199,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of Airbnb by 143.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after buying an additional 112 shares during the period. Entrust Financial LLC purchased a new position in shares of Airbnb during the fourth quarter worth $27,000. Meeder Asset Management Inc. grew its stake in shares of Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Airbnb by 397.7% in the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.37, for a total value of $2,020,057.55. Following the completion of the transaction, the insider owned 81,677 shares in the company, valued at approximately $12,118,416.49. This trade represents a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the transaction, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. This represents a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,231,864 shares of company stock worth $308,474,278 over the last 90 days. 27.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Raymond James Financial upgraded Airbnb from a “market perform” rating to a “strong-buy” rating in a report on Monday, May 4th. Morgan Stanley downgraded Airbnb from an “underweight” rating to an “underweight” rating in a research report on Monday, May 4th. Evercore reiterated an “outperform” rating on shares of Airbnb in a research note on Friday, May 8th. Finally, B. Riley Financial reissued a “buy” rating on shares of Airbnb in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Airbnb has an average rating of “Moderate Buy” and an average price target of $159.65.

Airbnb Stock Up 2.6%

Shares of NASDAQ ABNB opened at $141.10 on Friday. The stock has a market cap of $85.04 billion, a P/E ratio of 34.75, a PEG ratio of 1.47 and a beta of 1.14. The business’s fifty day simple moving average is $139.84 and its 200-day simple moving average is $134.62. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month 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.

Airbnb (NASDAQ:ABNB) last released its 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 return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that Airbnb, Inc. will post 4.92 EPS for the current fiscal year.

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.