Sierra Capital LLC Decreases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Sierra Capital LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 39.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,016 shares of the company's stock after selling 1,958 shares during the quarter. Sierra Capital LLC's holdings in Airbnb were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ABNB. Norges Bank purchased a new stake in shares of Airbnb in the 4th quarter worth $433,374,000. Clearbridge Investments LLC raised its holdings in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Two Sigma Advisers LP raised its position in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after acquiring an additional 1,389,251 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock worth $179,991,000 after purchasing an additional 820,887 shares during the period. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the sale, the chief executive officer directly owned 40,800 shares of the company's stock, valued at approximately $5,235,864. This represents a 16.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,393,143 shares of company stock valued at $178,387,178. 27.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on ABNB shares. Truist Financial reiterated a "sell" rating and issued a $106.00 price target (down from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Citigroup lowered their price objective on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Benchmark cut 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. Morgan Stanley upped their target price on Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research report on Thursday, April 17th. Finally, Evercore ISI dropped their price objective on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $141.47.

Airbnb Stock Down 0.0%

ABNB traded down $0.01 during trading on Tuesday, hitting $136.99. The company's stock had a trading volume of 3,143,501 shares, compared to its average volume of 5,029,338. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock's fifty day moving average price is $132.01 and its 200-day moving average price is $130.53. The firm has a market capitalization of $85.81 billion, a P/E ratio of 34.59, a PEG ratio of 2.56 and a beta of 1.13.

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). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business 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 posted $0.41 earnings per share. Airbnb's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS 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.