Gulf International Bank UK Ltd Sells 10,868 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Airbnb by 29.8% during the first quarter, resulting in holdings worth approximately $3.05 million.
• Insider trading activity included CEO Brian Chesky selling 8,000 shares for over $1 million, reducing his ownership by 16.39%.
• Analysts gave Airbnb a consensus rating of "Hold", with price targets ranging from $105 to $180, reflecting mixed sentiment regarding the company's growth prospects.

Gulf International Bank UK Ltd decreased its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 29.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,563 shares of the company's stock after selling 10,868 shares during the period. Gulf International Bank UK Ltd's holdings in Airbnb were worth $3,053,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ritholtz Wealth Management lifted its stake in Airbnb by 10.0% in the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock valued at $636,000 after purchasing an additional 484 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Airbnb by 0.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock valued at $6,115,000 after purchasing an additional 228 shares during the last quarter. Spire Wealth Management lifted its stake in Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after purchasing an additional 260 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Airbnb by 366.3% in the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company's stock valued at $106,000 after purchasing an additional 696 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Airbnb by 39.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock valued at $8,750,000 after purchasing an additional 20,753 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABNB shares. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Canaccord Genuity Group cut their target price on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Barclays set a $105.00 price objective on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, Evercore ISI cut 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 report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $142.72.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the sale, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. The trade was a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the sale, the director directly owned 236,015 shares in the company, valued at approximately $30,613,505.65. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,671,023 shares of company stock worth $223,195,427. Corporate insiders own 27.91% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB traded up $0.46 during mid-day trading on Friday, reaching $125.10. The stock had a trading volume of 4,307,326 shares, compared to its average volume of 5,404,998. The stock has a 50-day simple moving average of $133.76 and a two-hundred day simple moving average of $130.70. The stock has a market capitalization of $77.74 billion, a PE ratio of 30.29, a P/E/G ratio of 2.28 and a beta of 1.13. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. The business 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 quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current 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.