Choreo LLC Has $1.54 Million Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Choreo LLC reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 74.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,891 shares of the company's stock after selling 36,894 shares during the quarter. Choreo LLC's holdings in Airbnb were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ABNB. Park Square Financial Group LLC bought a new stake in shares of Airbnb in the fourth quarter worth $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb in the fourth quarter worth approximately $28,000. Stonebridge Financial Group LLC grew its position in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC increased its holdings in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares during the last quarter. Finally, Graney & King LLC bought a new position in Airbnb in the fourth quarter worth approximately $32,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABNB has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Susquehanna decreased their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research note on Monday, May 5th. UBS Group dropped their price target on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Truist Financial restated a "sell" rating and set a $106.00 target price (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Finally, Royal Bank Of Canada cut their price target on Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $141.50.

Airbnb Price Performance

Shares of ABNB traded down $0.31 during mid-day trading on Friday, hitting $141.31. The company's stock had a trading volume of 2,498,963 shares, compared to its average volume of 3,306,120. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market capitalization of $88.52 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.64 and a beta of 1.13. The firm has a 50-day moving average price of $134.66 and a 200 day moving average price of $131.04.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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 return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm earned $0.41 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $137.58, for a total value of $82,548.00. Following the completion of the sale, the chief technology officer owned 210,377 shares of the company's stock, valued at approximately $28,943,667.66. The trade was a 0.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the transaction, the director owned 472,015 shares in the company, valued at $65,529,842.45. This represents a 33.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,650,658 shares of company stock worth $218,970,735 in the last quarter. 27.91% of the stock is currently owned by corporate insiders.

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.