Securian Asset Management Inc. Cuts Stock Position in Airbnb, Inc. $ABNB

Securian Asset Management Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,457 shares of the company’s stock after selling 483 shares during the quarter. Securian Asset Management Inc.’s holdings in Airbnb were worth $2,972,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ABNB. GAMMA Investing LLC raised its position in Airbnb by 98.9% in the first quarter. GAMMA Investing LLC now owns 5,115 shares of the company’s stock worth $611,000 after acquiring an additional 2,543 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Airbnb by 39.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock worth $8,750,000 after acquiring an additional 20,753 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in Airbnb by 54.4% in the first quarter. Flagship Harbor Advisors LLC now owns 8,845 shares of the company’s stock worth $1,057,000 after acquiring an additional 3,116 shares in the last quarter. Continuum Advisory LLC raised its position in Airbnb by 16.6% in the first quarter. Continuum Advisory LLC now owns 1,382 shares of the company’s stock worth $165,000 after acquiring an additional 197 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Airbnb by 2.1% in the first quarter. Oppenheimer & Co. Inc. now owns 31,231 shares of the company’s stock worth $3,731,000 after acquiring an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 1.1%

ABNB opened at $128.56 on Wednesday. The firm has a market cap of $79.89 billion, a P/E ratio of 31.13, a PEG ratio of 2.32 and a beta of 1.10. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The business’s fifty day simple moving average is $124.31 and its 200 day simple moving average is $127.54.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $124.26, for a total value of $74,556.00. Following the sale, the chief technology officer directly owned 197,206 shares of the company’s stock, valued at approximately $24,504,817.56. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $119.22, for a total value of $28,135,920.00. Following the completion of the sale, the director directly owned 704,015 shares in the company, valued at approximately $83,932,668.30. The trade was a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,431,476 shares of company stock valued at $178,130,616 over the last quarter. Insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABNB. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. Barclays set a $105.00 price target on Airbnb and gave the company an “underweight” rating in a research report on Thursday, August 7th. Mizuho started coverage on Airbnb in a research report on Monday, September 29th. They issued an “outperform” rating and a $151.00 price target for the company. Finally, Zacks Research upgraded Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and an average price target of $141.81.

Airbnb Profile

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.