Truist Financial Corp Sells 2,138,143 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Truist Financial Corp lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 97.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,410 shares of the company’s stock after selling 2,138,143 shares during the quarter. Truist Financial Corp’s holdings in Airbnb were worth $5,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Airbnb in the 4th quarter valued at $25,000. Hollencrest Capital Management grew its position in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Berbice Capital Management LLC bought a new position in Airbnb in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in Airbnb in the 3rd quarter valued at $30,000. Finally, Quarry LP bought a new position in Airbnb in the 3rd quarter valued at $55,000. Institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ABNB shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. UBS Group upped their target price on Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Citigroup upped their target price on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Hsbc Global Res upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus target price of $146.48.

Insider Activity

In related news, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares in the company, valued at approximately $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,950,540 shares of company stock valued at $275,598,944. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Down 5.9 %

Shares of ABNB stock opened at $146.07 on Friday. The stock’s 50-day simple moving average is $135.45 and its 200-day simple moving average is $130.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $92.10 billion, a PE ratio of 35.37, a P/E/G ratio of 3.74 and a beta of 1.12. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share 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%. Equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.