New York Life Investment Management LLC Sells 761 Shares of Airbnb, Inc. (NASDAQ:ABNB)

New York Life Investment Management LLC trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,485 shares of the company’s stock after selling 761 shares during the quarter. New York Life Investment Management LLC’s holdings in Airbnb were worth $8,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Allegiance Financial Group Advisory Services LLC bought a new stake in Airbnb in the fourth quarter worth $332,000. GenTrust LLC purchased a new position in shares of Airbnb in the 4th quarter worth about $45,210,000. Whipplewood Advisors LLC bought a new position in Airbnb in the 4th quarter worth about $44,000. NewEdge Wealth LLC grew its position in Airbnb by 12.8% during the 4th quarter. NewEdge Wealth LLC now owns 14,674 shares of the company’s stock valued at $1,928,000 after purchasing an additional 1,668 shares during the last quarter. Finally, National Pension Service increased its stake in Airbnb by 9.7% during the 4th quarter. National Pension Service now owns 991,063 shares of the company’s stock valued at $130,236,000 after purchasing an additional 88,023 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

NASDAQ ABNB opened at $139.45 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market cap of $87.93 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.52 and a beta of 1.12. The company’s 50 day moving average is $136.43 and its two-hundred day moving average is $131.63.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $141.93, for a total value of $30,413,470.05. Following the transaction, the director now directly owns 428,575 shares of the company’s stock, valued at approximately $60,827,649.75. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,091,314 shares of company stock worth $295,773,256. Corporate insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of several analyst reports. B. Riley upped their target price on shares of Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. HSBC raised Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Canaccord Genuity Group lifted their target price on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Morgan Stanley boosted their price target on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average price target of $146.48.

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.