Zevenbergen Capital Investments LLC Sells 44,154 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Zevenbergen Capital Investments LLC has reduced its stake in Airbnb, Inc. by 13.0%, selling 44,154 shares, and now holds 296,485 shares valued at approximately $35.4 million.
• Recent price target adjustments from analysts show varied opinions: Phillip Securities downgraded to a "moderate sell," while JPMorgan raised their target from $120 to $130, indicating a generally cautious outlook on Airbnb's stock.
• Airbnb insiders, including Director Joseph Gebbia and CEO Brian Chesky, have significantly sold shares, which has contributed to a 27.91% insider ownership in the company.

Zevenbergen Capital Investments LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 296,485 shares of the company's stock after selling 44,154 shares during the period. Zevenbergen Capital Investments LLC's holdings in Airbnb were worth $35,418,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. MJP Associates Inc. ADV lifted its stake in Airbnb by 1.8% during the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock worth $490,000 after purchasing an additional 67 shares during the last quarter. Ellevest Inc. lifted its stake in Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. lifted its stake in Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after purchasing an additional 83 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABNB shares. Phillip Securities lowered Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. UBS Group decreased their price objective on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Susquehanna decreased their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and a consensus price target of $143.59.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.40, for a total value of $32,898,400.00. Following the transaction, the director directly owned 1,180,015 shares of the company's stock, valued at approximately $164,494,091. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the completion of the transaction, 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 three months, insiders have sold 1,671,023 shares of company stock valued at $223,195,427. 27.91% of the stock is owned by corporate insiders.

Airbnb Stock Up 0.8%

Shares of ABNB opened at $121.02 on Friday. The business's 50 day moving average price is $134.96 and its 200-day moving average price 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 cap of $75.81 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current 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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