Vontobel Holding Ltd. Trims Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Vontobel Holding Ltd. lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,980 shares of the company’s stock after selling 8,381 shares during the period. Vontobel Holding Ltd.’s holdings in Airbnb were worth $5,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABNB. Vanguard Group Inc. lifted its stake in Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after acquiring an additional 791,149 shares during the period. Jennison Associates LLC lifted its position in Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Legal & General Group Plc grew its position in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after purchasing an additional 153,784 shares during the period. Finally, Alphinity Investment Management Pty Ltd grew its position in Airbnb by 1.6% during the 1st quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock worth $418,341,000 after purchasing an additional 39,129 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ABNB shares. Piper Sandler lowered their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on shares of Airbnb from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.55.

Airbnb Stock Performance

ABNB opened at $136.02 on Friday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The firm has a market capitalization of $87.60 billion, a PE ratio of 18.21, a PEG ratio of 1.83 and a beta of 1.17. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $122.74 and its 200 day moving average price is $140.27.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at $30,951,359.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 600,956 shares of company stock valued at $79,260,444. 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.