Independent Advisor Alliance Trims Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Independent Advisor Alliance cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,377 shares of the company’s stock after selling 348 shares during the quarter. Independent Advisor Alliance’s holdings in Airbnb were worth $682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the third quarter valued at about $25,000. Hollencrest Capital Management grew its stake in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. New Millennium Group LLC acquired a new stake in shares of Airbnb in the second quarter valued at about $28,000. Cultivar Capital Inc. acquired a new stake in shares of Airbnb in the second quarter valued at about $30,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Airbnb in the third quarter valued at about $30,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now owns 537,072 shares in the company, valued at approximately $64,448,640. This trade represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 718,017 shares of company stock valued at $91,842,052 in the last quarter. Corporate insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ABNB shares. BMO Capital Markets lowered their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird raised their price objective on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Finally, Barclays raised their price objective on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $138.97.

Airbnb Stock Down 1.0 %

Shares of Airbnb stock opened at $138.28 on Thursday. The business’s fifty day moving average price is $133.86 and its two-hundred day moving average price is $135.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $87.67 billion, a P/E ratio of 48.52, a PEG ratio of 2.00 and a beta of 1.15. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the previous year, the firm earned $2.39 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current year.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.