Exchange Traded Concepts LLC Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Exchange Traded Concepts LLC lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,178 shares of the company’s stock after selling 1,070 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Airbnb were worth $2,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Airbnb in the 3rd quarter valued at $25,000. Hollencrest Capital Management increased its holdings in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Airbnb in the fourth quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in Airbnb during the third quarter valued at approximately $30,000. Finally, Quarry LP purchased a new position in Airbnb during the 3rd quarter valued at approximately $55,000. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ABNB shares. Truist Financial decreased their price objective on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Wedbush upped their price target on shares of Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson lifted their price objective on shares of Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Airbnb in a research report on Friday, November 8th. Finally, Morgan Stanley lifted their price target on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $139.63.

Insider Transactions at Airbnb

In related news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the transaction, the chief accounting officer now owns 40,581 shares of the company’s stock, valued at approximately $5,559,597. This represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $135.47, for a total transaction of $94,829.00. Following the sale, the chief technology officer now directly owns 183,314 shares in the company, valued at approximately $24,833,547.58. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,169,543 shares of company stock valued at $155,659,368. Corporate insiders own 27.83% of the company’s stock.

Airbnb Trading Down 4.6 %

ABNB stock opened at $127.09 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company’s 50-day simple moving average is $133.97 and its 200-day simple moving average is $131.24. The firm has a market cap of $80.57 billion, a P/E ratio of 44.59, a PEG ratio of 1.80 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $2.39 EPS. As a group, equities analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current fiscal 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.