Brooklyn Investment Group lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 14.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,388 shares of the company’s stock after selling 234 shares during the quarter. Brooklyn Investment Group’s holdings in Airbnb were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Airbnb during the 3rd quarter worth about $34,982,000. J.W. Cole Advisors Inc. lifted its position in shares of Airbnb by 86.5% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after acquiring an additional 2,132 shares during the period. Shellback Capital LP acquired a new stake in shares of Airbnb during the 2nd quarter worth approximately $22,744,000. Bradley Foster & Sargent Inc. CT increased its position in shares of Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after purchasing an additional 19,183 shares during the period. Finally, Plato Investment Management Ltd raised its stake in shares of Airbnb by 2.7% in the second quarter. Plato Investment Management Ltd now owns 13,493 shares of the company’s stock valued at $2,046,000 after purchasing an additional 358 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Piper Sandler lifted their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Bank of America reiterated a “hold” rating and set a $142.00 price objective (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. The Goldman Sachs Group reduced their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada lowered their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Airbnb has a consensus rating of “Hold” and an average price target of $138.97.
Airbnb Price Performance
Airbnb stock opened at $138.28 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $87.67 billion, a P/E ratio of 48.52, a PEG ratio of 2.00 and a beta of 1.15. The business has a 50-day moving average of $133.86 and a 200-day moving average of $135.47. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.
Airbnb (NASDAQ:ABNB – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the firm posted $2.39 EPS. On average, equities analysts anticipate that Airbnb, Inc. will post 4.02 EPS for the current year.
Insider Activity
In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief technology officer now owns 195,844 shares of the company’s stock, valued at $23,501,280. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 718,017 shares of company stock valued at $91,842,052 in the last quarter. Company 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.
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