Amundi Sells 1,718,354 Shares of Airbnb, Inc. $ABNB

Key Points

• Amundi reduced its stake in Airbnb, Inc. by 57.7%, selling over 1.7 million shares, and now owns approximately 1.25 million shares valued at $143 million.
• Multiple hedge funds, including Sit Investment Associates and Vestmark Advisory Solutions, have increased their positions in Airbnb by significant percentages during the same quarter.
• Airbnb's stock has experienced fluctuations, with shares trading down by 1.2% recently, and the company posting earnings that beat estimates with a revenue increase of 12.7% year-over-year.

Amundi trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 57.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,257,643 shares of the company's stock after selling 1,718,354 shares during the quarter. Amundi owned about 0.20% of Airbnb worth $143,334,000 as of its most recent filing with the SEC.

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

Airbnb Trading Down 1.2%

Shares of Airbnb stock opened at $123.81 on Friday. The firm has a market capitalization of $76.94 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 2.29 and a beta of 1.13. The firm's 50 day moving average is $131.64 and its 200 day moving average is $129.49. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

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

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $127.53, for a total transaction of $30,097,080.00. Following the sale, the director directly owned 1,412,015 shares of the company's stock, valued at approximately $180,074,272.95. The trade was a 14.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,674,926 shares of company stock worth $221,778,833 in the last ninety days. Insiders own 27.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Wedbush dropped their target price on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Truist Financial dropped their target price on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research report on Wednesday. Jefferies Financial Group dropped their target price on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Finally, BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Airbnb has a consensus rating of "Hold" and an average target price of $142.66.

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.

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