Planning Capital Management Corp Sells 728 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Planning Capital Management Corp reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 58.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 516 shares of the company’s stock after selling 728 shares during the period. Planning Capital Management Corp’s holdings in Airbnb were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ABNB. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb during the first quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management boosted its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. New Millennium Group LLC bought a new stake in Airbnb in the second quarter valued at $28,000. Finally, Cultivar Capital Inc. acquired a new stake in Airbnb in the second quarter valued at approximately $30,000. 80.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABNB has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. Piper Sandler upped their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Susquehanna raised their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Finally, Mizuho decreased their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.31.

Airbnb Price Performance

Shares of Airbnb stock opened at $134.56 on Friday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a market cap of $86.34 billion, a PE ratio of 47.21, a P/E/G ratio of 1.88 and a beta of 1.15. The business has a 50 day moving average of $130.62 and a 200 day moving average of $136.94. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the business posted $2.39 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the sale, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 72.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,806 shares of company stock worth $51,809,831 in the last three months. Insiders own 27.83% of the company’s stock.

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.