DekaBank Deutsche Girozentrale Trims Holdings in Airbnb, Inc. $ABNB

Key Points

• DekaBank Deutsche Girozentrale has reduced its stake in Airbnb, Inc. by 27.4%, now holding 121,255 shares valued at approximately $16.4 million after selling 45,682 shares in the second quarter.
• Airbnb's stock price has decreased by 0.8%, with a current market capitalization of $79.23 billion, and analysts predict a 2023 earnings per share of 4.31.
• A significant number of insiders, including CTO and CFO, have sold shares, with over 1.4 million shares worth nearly $177.3 million sold in the last quarter.

DekaBank Deutsche Girozentrale trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 27.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 121,255 shares of the company's stock after selling 45,682 shares during the period. DekaBank Deutsche Girozentrale's holdings in Airbnb were worth $16,406,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ABNB. Kentucky Trust Co purchased a new stake in shares of Airbnb in the 2nd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock valued at $26,000 after acquiring an additional 83 shares during the period. Concord Wealth Partners purchased a new stake in shares of Airbnb in the 2nd quarter valued at approximately $28,000. Stonebridge Financial Group LLC raised its stake in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Finally, Bartlett & CO. Wealth Management LLC raised its stake in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $120.46, for a total transaction of $72,276.00. Following the completion of the transaction, the chief technology officer owned 197,806 shares in the company, valued at $23,827,710.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 4,630 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares of the company's stock, valued at $57,027,469.40. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,425,876 shares of company stock worth $177,336,982. Insiders own 27.91% of the company's stock.

Airbnb Stock Down 0.8%

NASDAQ ABNB opened at $127.50 on Thursday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a market capitalization of $79.23 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. The firm has a 50 day moving average of $124.36 and a two-hundred day moving average of $127.54.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABNB shares. UBS Group reduced their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Truist Financial dropped their price objective on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a report on Wednesday, September 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Airbnb in a report on Wednesday, October 8th. Mizuho initiated coverage on shares of Airbnb in a report on Monday, September 29th. They issued an "outperform" rating and a $151.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $141.81.

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.

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