Plato Investment Management Ltd Sells 1,351 Shares of Airbnb, Inc. $ABNB

Plato Investment Management Ltd reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,623 shares of the company’s stock after selling 1,351 shares during the period. Plato Investment Management Ltd’s holdings in Airbnb were worth $2,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ABNB. Harris Associates L P boosted its position in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock worth $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Airbnb in the 2nd quarter worth $170,189,000. Finally, Consulta Ltd bought a new position in shares of Airbnb in the 1st quarter worth $149,325,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of Airbnb stock opened at $126.54 on Friday. The firm has a market cap of $78.64 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. The stock’s 50-day moving average is $124.55 and its 200-day moving average is $128.45. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. The company 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 company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABNB. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Wedbush reduced their target price on Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Finally, Barclays set a $105.00 target price on Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $141.70.

Insider Activity

In related news, CFO Elinor Mertz sold 7,500 shares of Airbnb stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $130.00, for a total value of $975,000.00. Following the sale, the chief financial officer owned 436,570 shares of the company’s stock, valued at approximately $56,754,100. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $127.53, for a total value of $76,518.00. Following the completion of the sale, the chief technology officer directly owned 196,606 shares in the company, valued at approximately $25,073,163.18. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,682,160 shares of company stock worth $210,262,707 over the last three months. Corporate insiders own 27.91% of the company’s stock.

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.