Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP has reduced its stake in Airbnb by 17.0%, selling 4,200 shares and ending with 20,450 shares valued at approximately $2.4 million.
• Notable insider transactions include CEO Brian Chesky selling 8,000 shares and Director Joseph Gebbia selling 236,000 shares, both reflecting significant declines in their respective positions.
• Analysts have adjusted price targets for Airbnb, with several firms lowering their expectations; the average rating for the stock remains at "Hold" with a price target of $143.59.

Entropy Technologies LP lessened its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 17.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,450 shares of the company's stock after selling 4,200 shares during the quarter. Entropy Technologies LP's holdings in Airbnb were worth $2,443,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Airbnb in the 4th quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb in the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC raised its holdings 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 purchasing an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its holdings 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 purchasing an additional 174 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in shares of Airbnb during the 1st quarter worth approximately $43,000. Institutional investors own 80.76% of the company's stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer directly owned 40,800 shares in the company, valued at approximately $5,235,864. The trade was a 16.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the sale, the chief financial officer owned 467,611 shares in the company, valued at $61,855,583.08. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,671,023 shares of company stock valued at $223,195,427. 27.91% of the stock is owned by company insiders.

Airbnb Stock Up 2.4%

Airbnb stock traded up $2.94 during trading on Wednesday, reaching $124.55. The stock had a trading volume of 6,650,458 shares, compared to its average volume of 5,177,857. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The business has a 50 day moving average price of $134.51 and a 200 day moving average price of $130.82. The stock has a market cap of $78.02 billion, a PE ratio of 29.45, a P/E/G ratio of 2.22 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. On average, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Ratings Changes

ABNB has been the subject of several recent analyst reports. Citizens Jmp upgraded shares of Airbnb to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Wedbush reduced their price objective on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Evercore ISI reduced their price objective on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb has a consensus rating of "Hold" and an average price target of $142.72.

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.