Nisa Investment Advisors LLC Sells 2,602 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Nisa Investment Advisors LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,364 shares of the company's stock after selling 2,602 shares during the period. Nisa Investment Advisors LLC's holdings in Airbnb were worth $6,016,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ABNB. LBP AM SA grew its position in Airbnb by 24.3% during the first quarter. LBP AM SA now owns 23,293 shares of the company's stock worth $2,783,000 after buying an additional 4,561 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Airbnb by 400.6% during the first quarter. Axxcess Wealth Management LLC now owns 21,451 shares of the company's stock worth $2,563,000 after buying an additional 17,166 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Airbnb by 1,045.0% during the first quarter. Cornerstone Planning Group LLC now owns 687 shares of the company's stock worth $81,000 after buying an additional 627 shares in the last quarter. Principal Securities Inc. grew its position in Airbnb by 3.1% during the first quarter. Principal Securities Inc. now owns 8,675 shares of the company's stock worth $1,140,000 after buying an additional 260 shares in the last quarter. Finally, Greenleaf Trust grew its position in Airbnb by 34.5% during the first quarter. Greenleaf Trust now owns 2,858 shares of the company's stock worth $341,000 after buying an additional 733 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.2%

Shares of ABNB stock opened at $135.35 on Friday. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm has a market capitalization of $84.78 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. The firm has a fifty day moving average of $133.00 and a 200-day moving average of $130.63.

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 during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm earned $0.41 EPS. Airbnb's quarterly revenue was up 7.4% on a year-over-year basis. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the sale, the director directly owned 1,416,015 shares of the company's stock, valued at $182,184,489.90. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer directly owned 40,800 shares in the company, valued at $5,235,864. This trade represents a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,629,143 shares of company stock valued at $210,676,703. Company insiders own 27.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABNB shares. Piper Sandler decreased their target price on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Canaccord Genuity Group decreased their target price on Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Benchmark decreased their price objective on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank Of Canada decreased their price objective on Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Airbnb presently has an average rating of "Hold" and an average price target of $141.47.

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.

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