Airbnb, Inc. $ABNB Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 51.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,932 shares of the company's stock after selling 542,213 shares during the period. Alliancebernstein L.P. owned 0.08% of Airbnb worth $59,961,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sit Investment Associates Inc. boosted its stake in Airbnb by 42.8% during the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in Airbnb by 74.8% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock worth $2,451,000 after purchasing an additional 8,780 shares during the period. Ritholtz Wealth Management boosted its stake in Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after purchasing an additional 484 shares during the period. Janney Montgomery Scott LLC raised its position in Airbnb by 0.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after buying an additional 228 shares during the last quarter. Finally, Spire Wealth Management raised its position in Airbnb by 40.1% during the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ABNB. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Barclays set a $105.00 price objective on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Citizens Jmp upgraded shares of Airbnb to a "hold" rating in a research report on Monday, August 11th. UBS Group cut their price objective on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Finally, BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $142.66.

Insider Transactions at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $124.96, for a total transaction of $74,976.00. Following the completion of the sale, the chief technology officer directly owned 202,006 shares in the company, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,438,926 shares of company stock worth $188,880,433 in the last 90 days. Insiders own 27.83% of the company's stock.

Airbnb Trading Down 0.6%

Shares of NASDAQ:ABNB traded down $0.81 on Tuesday, reaching $123.81. 3,603,949 shares of the company were exchanged, compared to its average volume of 4,308,686. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market cap of $76.94 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. The company has a 50-day moving average of $131.25 and a 200-day moving average of $128.92.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the prior year, the company posted $0.86 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.