3,140 Airbnb, Inc. $ABNB Shares Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 6.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,380 shares of the company’s stock after selling 3,140 shares during the quarter. Profund Advisors LLC’s holdings in Airbnb were worth $6,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Airbnb by 80.6% in the second quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock valued at $827,929,000 after buying an additional 2,581,539 shares during the period. Amundi raised its stake in Airbnb by 8.6% in the 1st quarter. Amundi now owns 4,686,765 shares of the company’s stock worth $591,845,000 after purchasing an additional 370,426 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Airbnb by 114.6% in the third quarter. Assenagon Asset Management S.A. now owns 3,401,521 shares of the company’s stock worth $546,454,000 after purchasing an additional 1,816,522 shares during the period. Jennison Associates LLC boosted its holdings in shares of Airbnb by 9,331.0% in the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after purchasing an additional 3,139,315 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Airbnb by 61.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,201,279 shares of the company’s stock valued at $353,635,000 after purchasing an additional 835,208 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABNB. Oppenheimer boosted their target price on shares of Airbnb from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company reduced their target price on Airbnb from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. Cantor Fitzgerald assumed coverage on shares of Airbnb in a report on Friday, October 2nd. They set an “overweight” rating for the company. Barclays upped their price target on shares of Airbnb from $125.00 to $150.00 in a research note on Friday, August 7th. Finally, Robert W. Baird lifted their price objective on Airbnb from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Moderate Buy” and a consensus target price of $182.43.

Airbnb Trading Down 1.2%

Shares of ABNB opened at $164.39 on Friday. The firm has a 50-day moving average price of $170.39 and a 200 day moving average price of $146.67. The firm has a market capitalization of $98.44 billion, a P/E ratio of 37.36, a P/E/G ratio of 1.88 and a beta of 1.24. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $193.45. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the business earned $1.03 EPS. Airbnb’s revenue for the quarter was up 16.3% on a year-over-year basis. Sell-side analysts forecast that Airbnb, Inc. will post 5.29 EPS for the current year.

Airbnb News Summary

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
• Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
• Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
• Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 200,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.79, for a total value of $34,958,000.00. Following the sale, the chief executive officer owned 10,501,685 shares of the company’s stock, valued at $1,835,589,521.15. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 531,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the sale, the insider owned 171,370 shares of the company’s stock, valued at $29,888,641.70. This represents a 75.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,299,330 shares of company stock valued at $233,111,996. Company insiders own 27.21% of the company’s stock.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.