Erste Asset Management GmbH Sells 23,739 Shares of Airbnb, Inc. $ABNB

Erste Asset Management GmbH reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 95.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011 shares of the company’s stock after selling 23,739 shares during the period. Erste Asset Management GmbH’s holdings in Airbnb were worth $123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Airbnb by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after buying an additional 649,323 shares in the last quarter. Harris Associates L P grew its position in Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after acquiring an additional 4,292,383 shares during the last quarter. Geode Capital Management LLC raised its stake in Airbnb by 1.5% during the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after acquiring an additional 145,788 shares in the last quarter. Norges Bank bought a new position in shares of Airbnb in the second quarter worth about $483,644,000. Finally, Akre Capital Management LLC lifted its holdings in shares of Airbnb by 19.0% in the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock worth $459,649,000 after acquiring an additional 555,510 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.4%

Shares of NASDAQ:ABNB opened at $133.26 on Tuesday. The firm has a market cap of $81.12 billion, a P/E ratio of 32.99, a P/E/G ratio of 1.83 and a beta of 1.12. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $144.75. The business has a fifty day simple moving average of $130.73 and a 200 day simple moving average of $126.32.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. As a group, equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABNB. Citizens Jmp raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a report on Wednesday, February 4th. Jefferies Financial Group raised their target price on shares of Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, December 5th. B. Riley Financial upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $170.00 in a report on Monday, January 12th. Mizuho set a $156.00 price target on Airbnb in a research note on Friday, November 7th. Finally, Wedbush restated a “neutral” rating and set a $130.00 price objective on shares of Airbnb in a research report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus price target of $148.69.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $121.97, for a total value of $7,074,260.00. Following the transaction, the director owned 344,015 shares in the company, valued at approximately $41,959,509.55. The trade was a 14.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $130.00, for a total transaction of $487,500.00. Following the sale, the chief financial officer owned 410,530 shares of the company’s stock, valued at approximately $53,368,900. This trade represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 795,226 shares of company stock valued at $100,778,211. Insiders own 27.83% of the company’s stock.

Airbnb 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.