Townsquare Capital LLC Sells 5,961 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Townsquare Capital LLC decreased its holdings in Airbnb, Inc. by 3.1%, selling 5,961 shares, and now owns 187,512 shares valued at approximately $22.4 million.
• Airbnb's stock is currently down 8.0%, with a market capitalization of $75.19 billion and a 12-month trading range between $99.88 and $163.93.
• The company reported earnings of $1.03 per share for the last quarter, surpassing estimates, and achieved a 12.7% year-over-year revenue growth to $3.10 billion.

Townsquare Capital LLC trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 187,512 shares of the company's stock after selling 5,961 shares during the period. Townsquare Capital LLC's holdings in Airbnb were worth $22,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Founders Financial Alliance LLC purchased a new stake in shares of Airbnb during the first quarter worth $218,000. National Bank of Canada FI lifted its position in shares of Airbnb by 69.3% during the first quarter. National Bank of Canada FI now owns 397,801 shares of the company's stock worth $47,521,000 after acquiring an additional 162,784 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Airbnb by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 904,631 shares of the company's stock worth $108,067,000 after acquiring an additional 82,145 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Airbnb during the first quarter worth $3,267,000. Finally, Deutsche Bank AG lifted its position in shares of Airbnb by 12.8% during the first quarter. Deutsche Bank AG now owns 1,669,278 shares of the company's stock worth $199,412,000 after acquiring an additional 188,964 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Up 0.8%

Shares of NASDAQ:ABNB traded up $0.99 on Friday, reaching $121.02. 5,785,507 shares of the company traded hands, compared to its average volume of 4,795,555. The business's 50-day simple moving average is $134.96 and its 200 day simple moving average is $130.97. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a market capitalization of $75.81 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The firm had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same period last year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 target price on shares of Airbnb in a research report on Wednesday, May 14th. Wells Fargo & Company lowered their price objective on Airbnb from $111.00 to $110.00 and set an "underweight" rating on the stock in a research report on Thursday. Susquehanna lowered their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. UBS Group lowered their price objective on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Morgan Stanley lowered their price objective on Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $143.59.

Insiders Place Their Bets

In related news, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $129.71, for a total value of $30,611,560.00. Following the completion of the sale, the director directly owned 236,015 shares in the company, valued at $30,613,505.65. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock valued at $223,195,427 over the last three months. Company insiders own 27.91% of the company's stock.

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.