Praxis Investment Management Inc. Sells 4,760 Shares of Airbnb, Inc. $ABNB

Key Points

• Praxis Investment Management Inc. reduced its stake in Airbnb by 45.1%, selling 4,760 shares, leaving them with 5,790 shares valued at approximately $766,000.
• Several hedge funds have adjusted their positions in Airbnb, with notable increases from E Fund Management Hong Kong Co. Ltd. (70.9%) and Bartlett & CO. Wealth Management LLC (209.6%).
• Airbnb's stock recently opened at $125.91, with a market cap of $78.25 billion and a twelve-month high of $163.93.

Praxis Investment Management Inc. lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 45.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,790 shares of the company's stock after selling 4,760 shares during the period. Praxis Investment Management Inc.'s holdings in Airbnb were worth $766,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Trust Co bought a new position in Airbnb during the 2nd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock valued at $26,000 after purchasing an additional 83 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Airbnb in the 2nd quarter valued at $28,000. Stonebridge Financial Group LLC boosted its holdings 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 boosted its holdings 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. Institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays set a $105.00 target price on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Wedbush reduced their target price on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a report on Tuesday, October 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Finally, Mizuho assumed coverage on Airbnb in a report on Monday, September 29th. They issued an "outperform" rating and a $151.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $141.81.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00. Following the transaction, the director directly owned 1,176,015 shares of the company's stock, valued at approximately $142,015,571.40. The trade was a 16.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total value of $594,584.60. Following the transaction, the chief financial officer directly owned 444,070 shares in the company, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,666,876 shares of company stock valued at $210,819,940 over the last 90 days. 27.91% of the stock is owned by corporate insiders.

Airbnb Stock Up 2.5%

NASDAQ ABNB opened at $125.91 on Friday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market cap of $78.25 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The business's fifty day moving average is $123.99 and its 200 day moving average is $127.27.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data 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 for 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 for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, research analysts anticipate 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.

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