GFG Capital LLC Sells 21,433 Shares of Airbnb, Inc. (NASDAQ:ABNB)

GFG Capital LLC trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 29.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 50,185 shares of the company's stock after selling 21,433 shares during the quarter. Airbnb makes up about 1.8% of GFG Capital LLC's investment portfolio, making the stock its 17th largest holding. GFG Capital LLC's holdings in Airbnb were worth $5,995,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Airbnb in the fourth quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Airbnb in the fourth quarter valued at $28,000. Stonebridge Financial Group LLC raised its stake in shares of 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 purchasing an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of 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 purchasing an additional 174 shares in the last quarter. Finally, Graney & King LLC bought a new stake in shares of Airbnb during the fourth quarter valued at about $32,000. 80.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred 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 approximately $122,212,181.90. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,393,143 shares of company stock worth $178,486,303. 27.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABNB has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird cut their price objective on shares of Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Royal Bank Of Canada cut their price objective on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Barclays lowered their target price on Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb has an average rating of "Hold" and a consensus price target of $141.47.

Airbnb Stock Performance

Shares of Airbnb stock traded down $0.14 during trading on Wednesday, hitting $136.85. 4,242,053 shares of the stock traded hands, compared to its average volume of 5,033,656. The stock has a market cap of $85.72 billion, a P/E ratio of 34.56, a PEG ratio of 2.57 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a fifty day moving average price of $132.24 and a two-hundred day moving average price of $130.57.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal 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.