Airbnb, Inc. $ABNB Shares Sold by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management cut its Airbnb stake by 16.4% in the fourth quarter, selling 11,873 shares and leaving it with 60,652 shares valued at about $8.23 million.
• Airbnb reported quarterly earnings of $0.26 per share, below analyst expectations of $0.31, though revenue of $2.68 billion topped estimates and rose 17.9% year over year.
• The stock was down 1.7% in Friday trading, and the article also noted recent insider selling by director Joseph Gebbia and CEO Brian Chesky.

Rockefeller Capital Management L.P. decreased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,652 shares of the company's stock after selling 11,873 shares during the period. Rockefeller Capital Management L.P.'s holdings in Airbnb were worth $8,232,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Life Insurance Co. raised its position in Airbnb by 15.0% in the third quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company's stock valued at $8,022,000 after purchasing an additional 8,636 shares during the period. Merit Financial Group LLC boosted its position in shares of Airbnb by 72.1% during the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company's stock worth $4,478,000 after buying an additional 13,818 shares during the period. ARK Investment Management LLC boosted its position in shares of Airbnb by 30.7% during the third quarter. ARK Investment Management LLC now owns 1,035,828 shares of the company's stock worth $125,770,000 after buying an additional 243,299 shares during the period. Victory Capital Management Inc. grew its stake in shares of Airbnb by 14.6% in the third quarter. Victory Capital Management Inc. now owns 1,529,652 shares of the company's stock valued at $185,730,000 after buying an additional 195,055 shares in the last quarter. Finally, North Star Asset Management Inc. raised its holdings in shares of Airbnb by 13.4% in the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company's stock valued at $10,663,000 after buying an additional 9,294 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Trading Down 1.7%

ABNB opened at $141.88 on Friday. Airbnb, Inc. has a one year low of $110.81 and a one year high of $147.27. The company has a market cap of $85.51 billion, a P/E ratio of 34.95, a PEG ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The business's 50-day simple moving average is $137.20 and its 200-day simple moving average is $132.76.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.Airbnb's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts expect that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 265,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $138.51, for a total value of $36,705,150.00. Following the completion of the transaction, the director owned 2,917,355 shares in the company, valued at approximately $404,082,841.05. This represents a 8.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 30,743 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $138.40, for a total transaction of $4,254,831.20. Following the completion of the transaction, the chief executive officer directly owned 10,701,685 shares in the company, valued at $1,481,113,204. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,914,860 shares of company stock valued at $259,869,869. 27.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. CICC Research started coverage on Airbnb in a research report on Friday, June 5th. They issued an "outperform" rating and a $165.00 target price for the company. Robert W. Baird set a $150.00 price objective on Airbnb in a research note on Friday, May 8th. Scotiabank began coverage on Airbnb in a research note on Monday, May 4th. They set an "outperform" rating for the company. Barclays boosted their target price on Airbnb from $122.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $170.00 price target on shares of Airbnb in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Airbnb has an average rating of "Moderate Buy" and an average target price of $157.96.

Airbnb Company Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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