Raymond James Trust N.A. Cuts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Raymond James Trust N.A. cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,589 shares of the company’s stock after selling 252 shares during the quarter. Raymond James Trust N.A.’s holdings in Airbnb were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Edgewood Management LLC raised its position in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Pacer Advisors Inc. raised its holdings in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Legal & General Group Plc raised its stake in Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after buying an additional 153,784 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Airbnb by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after purchasing an additional 52,358 shares during the period. Finally, MKA Charitable Fund boosted its holdings in shares of Airbnb by 17.2% during the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after buying an additional 296,153 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup increased their target price on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. B. Riley decreased their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. DA Davidson raised their price target on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $138.97.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the sale, the chief technology officer now owns 195,844 shares in the company, valued at approximately $23,501,280. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 641,094 shares of company stock valued at $81,077,447. Corporate insiders own 27.83% of the company’s stock.

Airbnb Trading Up 2.6 %

ABNB opened at $140.93 on Tuesday. The stock has a 50-day moving average of $133.19 and a 200 day moving average of $135.50. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The firm has a market cap of $89.35 billion, a P/E ratio of 49.45, a P/E/G ratio of 1.95 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the firm posted $2.39 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current year.

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.