Airbnb, Inc. $ABNB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 18.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 538,265 shares of the company’s stock after selling 124,290 shares during the period. ProShare Advisors LLC’s holdings in Airbnb were worth $65,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Caxton Associates LLP acquired a new position in Airbnb during the 1st quarter worth $258,000. Intech Investment Management LLC grew its position in Airbnb by 55.8% in the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after buying an additional 4,353 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Airbnb by 18.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after acquiring an additional 927 shares during the last quarter. IFP Advisors Inc raised its holdings in Airbnb by 4.3% during the 2nd quarter. IFP Advisors Inc now owns 2,398 shares of the company’s stock worth $317,000 after buying an additional 99 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Airbnb by 140.6% in the 2nd quarter. Blue Trust Inc. now owns 1,364 shares of the company’s stock valued at $181,000 after acquiring an additional 797 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ABNB shares. DA Davidson reaffirmed a “buy” rating and set a $155.00 target price on shares of Airbnb in a research note on Friday, December 5th. Wells Fargo & Company set a $128.00 price target on Airbnb and gave the company an “equal weight” rating in a report on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating on shares of Airbnb in a research note on Wednesday, January 14th. Truist Financial raised their target price on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research note on Thursday, December 4th. Finally, BNP Paribas Exane assumed coverage on shares of Airbnb in a report on Monday, November 24th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nineteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus target price of $148.85.

Airbnb Price Performance

NASDAQ ABNB opened at $121.31 on Tuesday. The company’s fifty day moving average is $131.38 and its two-hundred day moving average is $126.67. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a market capitalization of $74.67 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.89 and a beta of 1.15.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 51,230 shares of Airbnb stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the sale, the chief executive officer owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $487,500.00. Following the sale, the chief financial officer owned 410,530 shares in the company, valued at approximately $53,368,900. This represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 970,022 shares of company stock valued at $120,106,336 in the last ninety days. 27.83% of the stock is owned by corporate insiders.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.