Harel Insurance Investments & Financial Services Ltd. Sells 16,424 Shares of Airbnb, Inc. $ABNB

Key Points

• Harel Insurance Investments cut its Airbnb stake by 49.7% in the first quarter, selling 16,424 shares and leaving it with 16,650 shares worth about $2.1 million.
• Several analysts remain positive on Airbnb, with recent rating changes including upgrades and raised price targets; the stock currently carries a Moderate Buy consensus and an average target price of $158.96.
• Airbnb insiders have also been selling shares, including CEO Nathan Blecharczyk and CFO Elinor Mertz, while the stock was recently trading around $148.38 after rising 1.3%.

Harel Insurance Investments & Financial Services Ltd. decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 49.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,650 shares of the company's stock after selling 16,424 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Airbnb were worth $2,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Transamerica Financial Advisors LLC increased its position in Airbnb by 143.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company's stock worth $26,000 after buying an additional 112 shares during the period. ORG Partners LLC grew its stake in shares of Airbnb by 97.0% in the fourth quarter. ORG Partners LLC now owns 195 shares of the company's stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Entrust Financial LLC bought a new position in Airbnb during the fourth quarter worth $27,000. Aventura Private Wealth LLC acquired a new position in Airbnb during the 4th quarter valued at $29,000. Finally, Sunbelt Securities Inc. boosted its holdings in Airbnb by 397.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citizens Jmp upped their price objective on shares of Airbnb from $160.00 to $170.00 and gave the company a "market outperform" rating in a research report on Friday, May 8th. Tigress Financial reduced their price objective on Airbnb from $200.00 to $185.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Oppenheimer upgraded Airbnb from a "market perform" rating to an "outperform" rating and set a $180.00 price objective on the stock in a research report on Monday, May 4th. UBS Group lifted their price target on shares of Airbnb from $153.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Finally, Truist Financial increased their price objective on shares of Airbnb from $129.00 to $134.00 and gave the company a "hold" rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Airbnb presently has a consensus rating of "Moderate Buy" and an average target price of $158.96.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 13,615 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.37, for a total value of $2,020,057.55. Following the completion of the transaction, the insider owned 81,677 shares of the company's stock, valued at $12,118,416.49. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the completion of the sale, the chief financial officer owned 445,290 shares of the company's stock, valued at $65,907,372.90. This trade represents a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,325,429 shares of company stock worth $321,925,435. Company insiders own 27.21% of the company's stock.

Airbnb Stock Up 1.3%

NASDAQ ABNB opened at $148.38 on Thursday. The stock has a market capitalization of $89.43 billion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a fifty day moving average of $138.89 and a 200-day moving average of $134.26.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business's revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities research analysts forecast that Airbnb, Inc. will post 4.91 EPS for the current year.

Airbnb Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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