Graypoint LLC Lowers Stake in Airbnb, Inc. (NASDAQ:ABNB)

Graypoint LLC lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 3.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,454 shares of the company’s stock after selling 168 shares during the quarter. Graypoint LLC’s holdings in Airbnb were worth $585,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Airbnb in the third quarter valued at $34,982,000. Tri Ri Asset Management Corp acquired a new position in Airbnb during the 3rd quarter valued at approximately $6,352,000. J.W. Cole Advisors Inc. grew its position in shares of Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after acquiring an additional 2,132 shares during the last quarter. Shellback Capital LP bought a new position in Airbnb in the 2nd quarter worth about $22,744,000. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in Airbnb by 1,231.3% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after buying an additional 19,183 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Down 0.9 %

ABNB stock opened at $129.63 on Friday. The stock has a market cap of $82.18 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a fifty day moving average price of $134.98 and a two-hundred day moving average price of $132.67. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last announced its quarterly 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). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the company posted $2.39 EPS. Equities analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $133.51, for a total transaction of $80,106.00. Following the sale, the chief technology officer now directly owns 193,444 shares in the company, valued at $25,826,708.44. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 38,460 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $133.97, for a total transaction of $5,152,486.20. Following the completion of the transaction, the chief executive officer now owns 13,200,529 shares of the company’s stock, valued at $1,768,474,870.13. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 955,057 shares of company stock worth $128,033,252. Company insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABNB. TD Cowen raised their price objective on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Citigroup boosted their price objective on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays increased their target price on Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and an average price target of $139.48.

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.