Airbnb, Inc. $ABNB Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its stake in Airbnb by 2,934 shares, representing a 2.2% decrease, and now holds 130,981 shares valued at approximately $15.65 million.
• Airbnb's quarterly earnings surpassed analysts' expectations with $1.03 per share, driven by a revenue increase of 12.7% year-over-year, amounting to $3.10 billion.
• Analysts have recently lowered price targets for Airbnb; UBS reduced its target from $156 to $148, while Wells Fargo set a target of $110, reflecting a cautious outlook on the stock.

MetLife Investment Management LLC trimmed its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,981 shares of the company's stock after selling 2,934 shares during the period. MetLife Investment Management LLC's holdings in Airbnb were worth $15,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABNB. Park Square Financial Group LLC acquired a new position in Airbnb during the fourth quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC increased its holdings in shares of 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 purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after buying an additional 174 shares in the last quarter. Finally, SouthState Corp boosted its stake in Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

Shares of ABNB stock traded up $0.61 on Thursday, hitting $130.46. The stock had a trading volume of 3,655,399 shares, compared to its average volume of 5,249,508. The company's 50 day moving average price is $132.26 and its 200-day moving average price is $130.47. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market capitalization of $81.07 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.32 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.Airbnb's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, equities analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of analyst reports. B. Riley reduced their target price on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Truist Financial reaffirmed a "sell" rating and set a $106.00 price target (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Zacks Research upgraded Airbnb to a "hold" rating in a research report on Tuesday, August 12th. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada lifted their target price on Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Airbnb has a consensus rating of "Hold" and an average price target of $142.72.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the sale, the chief technology officer directly owned 202,006 shares in the company, valued at approximately $25,242,669.76. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David C. Bernstein sold 5,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,445,355 shares of company stock valued at $192,533,558 in the last quarter. Corporate insiders own 27.91% of the company's stock.

Airbnb Company 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.