Silvercrest Asset Management Group LLC Sells 2,564 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Silvercrest Asset Management Group LLC cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 114,132 shares of the company’s stock after selling 2,564 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Airbnb were worth $14,998,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABNB. Norges Bank bought a new position in Airbnb in the fourth quarter worth about $433,374,000. Clearbridge Investments LLC raised its holdings in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after acquiring an additional 1,185,892 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Airbnb by 52.1% during the fourth quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock valued at $310,896,000 after acquiring an additional 809,964 shares in the last quarter. Finally, Parnassus Investments LLC increased its holdings in shares of Airbnb by 8,324.9% during the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock valued at $86,144,000 after acquiring an additional 647,758 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the transaction, the director now owns 2,294,870 shares in the company, valued at $249,590,061.20. This trade represents a 8.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 2,712 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $156.32, for a total value of $423,939.84. Following the transaction, the insider now owns 159,337 shares in the company, valued at $24,907,559.84. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,533,331 shares of company stock worth $195,015,055 in the last quarter. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABNB. UBS Group cut their price objective on shares of Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Piper Sandler cut their price objective on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Wedbush downgraded shares of Airbnb from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $150.00 to $135.00 in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.43.

Airbnb Trading Up 0.9%

Airbnb stock opened at $138.00 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 $99.88 and a 12 month high of $163.93. The stock’s 50 day simple moving average is $121.83 and its two-hundred day simple moving average is $131.23. The firm has a market cap of $87.01 billion, a PE ratio of 33.41, a P/E/G ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share 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.