Airbnb, Inc. (NASDAQ:ABNB) Stake Cut by Sarasin & Partners LLP

Sarasin & Partners LLP decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 40.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,359 shares of the company's stock after selling 6,927 shares during the period. Sarasin & Partners LLP's holdings in Airbnb were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Financial Advocates Investment Management purchased a new stake in shares of Airbnb in the fourth quarter valued at about $323,000. Golden State Wealth Management LLC acquired a new position in Airbnb during the 4th quarter worth $25,000. Kingsview Wealth Management LLC raised its holdings in shares of Airbnb by 3.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,825 shares of the company's stock valued at $503,000 after purchasing an additional 134 shares in the last quarter. Empowered Funds LLC raised its stake in Airbnb by 4.8% in the fourth quarter. Empowered Funds LLC now owns 65,490 shares of the company's stock valued at $8,606,000 after buying an additional 2,991 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in Airbnb by 6.7% during the fourth quarter. Empirical Finance LLC now owns 2,791 shares of the company's stock worth $367,000 after purchasing an additional 175 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded up $0.75 during trading on Thursday, reaching $138.81. 3,455,130 shares of the company's stock traded hands, compared to its average volume of 5,008,879. The stock has a market capitalization of $86.95 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a 50 day moving average of $125.06 and a 200-day moving average of $130.82. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ABNB shares. Gordon Haskett upgraded shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 target price for the company in a research note on Friday, February 14th. Wells Fargo & Company lifted their price objective on Airbnb from $100.00 to $104.00 and gave the stock an "underweight" rating in a report on Friday, May 2nd. Baird R W raised Airbnb from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. B. Riley cut their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their price objective on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Airbnb has an average rating of "Hold" and a consensus target price of $141.23.

Insider Activity

In other news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the sale, the director now directly owns 1,180,015 shares of the company's stock, valued at $164,494,091. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Chesky sold 38,461 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $126.60, for a total value of $4,869,162.60. Following the completion of the transaction, the chief executive officer now owns 11,770,144 shares of the company's stock, valued at $1,490,100,230.40. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,663,033 shares of company stock valued at $208,384,185. Company insiders own 27.91% 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.