Adage Capital Partners GP L.L.C. Sells 88,700 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Adage Capital Partners GP L.L.C. lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,400 shares of the company’s stock after selling 88,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.06% of Airbnb worth $47,229,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Syon Capital LLC boosted its stake in shares of Airbnb by 15.7% during the 4th quarter. Syon Capital LLC now owns 5,239 shares of the company’s stock worth $688,000 after buying an additional 710 shares during the last quarter. MGO One Seven LLC raised its holdings in Airbnb by 80.1% during the fourth quarter. MGO One Seven LLC now owns 6,394 shares of the company’s stock worth $840,000 after acquiring an additional 2,844 shares in the last quarter. Pinebridge Investments L.P. boosted its position in Airbnb by 87.3% during the fourth quarter. Pinebridge Investments L.P. now owns 100,068 shares of the company’s stock valued at $13,150,000 after purchasing an additional 46,649 shares during the last quarter. Dark Forest Capital Management LP grew its stake in Airbnb by 61.6% in the fourth quarter. Dark Forest Capital Management LP now owns 7,585 shares of the company’s stock valued at $997,000 after purchasing an additional 2,890 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Airbnb by 26.1% during the 4th quarter. Stifel Financial Corp now owns 635,920 shares of the company’s stock worth $83,566,000 after purchasing an additional 131,821 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the subject of several recent analyst reports. Robert W. Baird cut their price objective on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Cantor Fitzgerald decreased their price objective on shares of Airbnb from $130.00 to $101.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Susquehanna boosted their price objective on shares of Airbnb from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Tuesday, February 18th. DA Davidson raised their target price on shares of Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Truist Financial lowered their price target on Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $146.94.

Airbnb Trading Up 2.9 %

NASDAQ:ABNB opened at $121.71 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a 50-day moving average of $126.43 and a 200-day moving average of $132.00. The company has a market cap of $76.74 billion, a PE ratio of 29.47, a PEG ratio of 3.52 and a beta of 1.15. Airbnb, Inc. has a one year low of $99.88 and a one year high of $165.50.

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

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the sale, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $112.59, for a total value of $78,813.00. Following the sale, the chief technology officer now owns 222,122 shares in the company, valued at $25,008,715.98. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,213,131 shares of company stock valued at $300,179,370 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

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.