PNC Financial Services Group Inc. Sells 4,438 Shares of Airbnb, Inc. (NASDAQ:ABNB)

PNC Financial Services Group Inc. cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,707 shares of the company’s stock after selling 4,438 shares during the period. PNC Financial Services Group Inc.’s holdings in Airbnb were worth $13,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ABNB. Assetmark Inc. lifted its holdings in Airbnb by 11.6% in the 3rd quarter. Assetmark Inc. now owns 49,994 shares of the company’s stock worth $6,340,000 after purchasing an additional 5,189 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Airbnb by 3.2% in the third quarter. Sigma Planning Corp now owns 7,194 shares of the company’s stock worth $912,000 after buying an additional 221 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Airbnb during the third quarter worth $30,000. Versor Investments LP grew its stake in Airbnb by 17.9% during the third quarter. Versor Investments LP now owns 10,036 shares of the company’s stock valued at $1,273,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Airbnb by 3.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 8,705 shares of the company’s stock valued at $1,104,000 after acquiring an additional 328 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $135.35, for a total transaction of $94,745.00. Following the sale, the chief technology officer now owns 184,714 shares of the company’s stock, valued at approximately $25,001,039.90. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the transaction, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at approximately $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,054,509 shares of company stock worth $290,940,989 over the last three months. 27.83% of the stock is owned by corporate insiders.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $125.44 on Wednesday. The firm’s 50 day simple moving average is $136.82 and its 200-day simple moving average is $132.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The firm has a market cap of $79.09 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. JMP Securities reissued a “market perform” rating on shares of Airbnb in a report on Friday, February 14th. Robert W. Baird raised Airbnb from a “neutral” rating to an “outperform” rating and increased their price target for the company from $140.00 to $175.00 in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Friday, February 14th. Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $185.00 in a report on Monday. Finally, DA Davidson raised their target price on shares of Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $148.00.

Airbnb Company 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.