GFG Capital LLC Decreases Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

GFG Capital LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 29.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,185 shares of the company's stock after selling 21,433 shares during the quarter. Airbnb accounts for approximately 1.8% of GFG Capital LLC's holdings, making the stock its 17th biggest holding. GFG Capital LLC's holdings in Airbnb were worth $5,995,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Airbnb in the fourth quarter worth $26,000. Orion Capital Management LLC bought a new stake in Airbnb in the fourth quarter valued at $28,000. Graney & King LLC bought a new stake in Airbnb in the fourth quarter valued at $32,000. Stonebridge Financial Group LLC boosted its holdings in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in Airbnb by 209.6% in the first 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 in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABNB. JPMorgan Chase & Co. cut their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Susquehanna cut their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Wedbush cut shares of Airbnb from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $150.00 to $135.00 in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their price target on Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $141.47.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $136.40, for a total value of $32,190,400.00. Following the completion of the transaction, the director directly owned 708,015 shares in the company, valued at $96,573,246. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the transaction, the chief executive officer owned 40,800 shares of the company's stock, valued at $5,235,864. The trade was a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,629,143 shares of company stock worth $210,676,703 in the last three months. 27.91% of the stock is owned by company insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded down $1.65 during mid-day trading on Friday, reaching $135.35. 3,053,829 shares of the company traded hands, compared to its average volume of 5,038,979. The company's 50 day moving average price is $133.00 and its 200-day moving average price is $130.60. The firm has a market cap of $84.78 billion, a PE ratio of 34.18, a PEG ratio of 2.53 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb 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.