BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 71,850 Shares of Airbnb, Inc. $ABNB

Key Points

• BNP PARIBAS ASSET MANAGEMENT reduced its stake in Airbnb by 33.2%, selling 71,850 shares, and now holds 144,693 shares valued at approximately $17.3 million.
• Institutional investors have been active in Airbnb, with Pacer Advisors Inc. increasing its holdings by 2,297.4% this quarter, while several other funds have notably expanded their stakes.
• Airbnb's stock is currently rated as a "Hold" by analysts, with a consensus price target of $142.72, as the firm reported strong earnings and revenue growth despite a decrease in insider ownership.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 33.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 144,693 shares of the company's stock after selling 71,850 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Airbnb were worth $17,285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. MJP Associates Inc. ADV increased its holdings 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 acquiring an additional 67 shares in the last quarter. Ellevest Inc. increased its holdings in Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after acquiring an additional 80 shares in the last quarter. Harbour Investments Inc. grew its holdings in Airbnb by 12.2% during the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company's stock valued at $88,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in Airbnb by 4.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock valued at $237,000 after buying an additional 83 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in Airbnb by 7.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock valued at $176,000 after buying an additional 90 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABNB. JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. BNP Paribas raised shares of Airbnb to a "hold" rating in a report on Wednesday, July 16th. Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Wedbush cut their price objective on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Barclays set a $105.00 price objective on shares of Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $142.72.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the completion of the sale, the director directly owned 944,015 shares in the company, valued at $122,212,181.90. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the completion of the sale, the chief financial officer owned 467,611 shares of the company's stock, valued at approximately $61,855,583.08. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,690,493 shares of company stock valued at $224,082,441. 27.91% of the stock is owned by corporate insiders.

Airbnb Trading Down 0.8%

Shares of ABNB stock traded down $1.04 on Wednesday, reaching $124.96. The company's stock had a trading volume of 4,096,563 shares, compared to its average volume of 5,583,350. The stock's fifty day simple moving average is $132.98 and its 200-day simple moving average is $130.58. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a market capitalization of $77.66 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating 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 firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the firm posted $0.86 earnings per share. Airbnb's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.