M&T Bank Corp Sells 2,670 Shares of Airbnb, Inc. (NASDAQ:ABNB)

M&T Bank Corp lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,375 shares of the company's stock after selling 2,670 shares during the quarter. M&T Bank Corp's holdings in Airbnb were worth $1,717,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in shares of Airbnb in the 4th quarter valued at approximately $28,000. Graney & King LLC acquired a new position in shares of Airbnb in the 4th quarter valued at approximately $32,000. Stonebridge Financial Group LLC raised its position in shares of Airbnb by 75.7% in the 1st 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. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% in the 1st 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. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $136.27, for a total value of $81,762.00. Following the completion of the sale, the chief technology officer owned 211,577 shares in the company, valued at approximately $28,831,597.79. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated 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 sale, the director owned 708,015 shares of the company's stock, valued at $96,573,246. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,629,143 shares of company stock worth $210,676,703. 27.91% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of recent analyst reports. UBS Group cut their target price on Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company upped their price target on Airbnb from $104.00 to $111.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Piper Sandler dropped their price target on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $141.47.

Airbnb Trading Down 1.2%

Shares of ABNB traded down $1.65 during trading hours on Friday, hitting $135.35. 3,053,829 shares of the stock traded hands, compared to its average volume of 5,038,979. 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 $84.78 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.53 and a beta of 1.13. The business has a fifty day moving average of $133.00 and a 200-day moving average of $130.60.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued 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). The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $0.41 EPS. As a group, equities research analysts expect 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.