Blair William & Co. IL Trims Stake in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Blair William & Co. IL reduced its stake in Airbnb, Inc. by 4.7%, selling 7,179 shares and retaining a total of 144,716 shares worth approximately $17.3 million.
• Institutional investors currently own 80.76% of Airbnb's stock, with varying changes in their holdings during the first quarter.
• The current average stock rating for Airbnb is "Hold," with a consensus target price of $142.10, having seen analysts adjusting their price estimates in recent reports.

Blair William & Co. IL decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,716 shares of the company's stock after selling 7,179 shares during the period. Blair William & Co. IL's holdings in Airbnb were worth $17,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. MJP Associates Inc. ADV lifted its position in Airbnb by 1.8% in the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock worth $490,000 after buying an additional 67 shares in the last quarter. Ellevest Inc. grew its stake in shares of Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after acquiring an additional 80 shares during the last quarter. Harbour Investments Inc. grew its position in Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after buying an additional 83 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Trading Up 0.4%

NASDAQ ABNB traded up $0.54 during mid-day trading on Wednesday, hitting $130.50. The company's stock had a trading volume of 10,951,780 shares, compared to its average volume of 3,822,078. The company's 50 day simple moving average is $135.23 and its 200 day simple moving average is $131.17. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market capitalization of $81.75 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.42 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Airbnb from $104.00 to $111.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Royal Bank Of Canada decreased their price objective on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Citigroup lowered their target price on Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Canaccord Genuity Group cut their price target on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $142.10.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total transaction of $826,750.00. Following the completion of the sale, the chief financial officer owned 467,611 shares in the company, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the completion of the transaction, the chief executive officer owned 40,800 shares in the company, valued at approximately $5,235,864. The trade was a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,435,023 shares of company stock valued at $192,583,867. Insiders own 27.91% of the company's stock.

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.