Rockefeller Capital Management L.P. Trims Stock Holdings in Airbnb, Inc. $ABNB

Rockefeller Capital Management L.P. reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 16.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 60,652 shares of the company’s stock after selling 11,873 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Airbnb were worth $8,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC boosted its stake in shares of Airbnb by 143.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after buying an additional 112 shares during the period. ORG Partners LLC increased its position in Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Entrust Financial LLC purchased a new stake in Airbnb during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Airbnb during the 3rd quarter valued at approximately $25,000. Finally, Aventura Private Wealth LLC acquired a new stake in Airbnb during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 265,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $138.51, for a total transaction of $36,705,150.00. Following the sale, the director directly owned 2,917,355 shares in the company, valued at approximately $404,082,841.05. The trade was a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 30,743 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $138.40, for a total transaction of $4,254,831.20. Following the transaction, the chief executive officer directly owned 10,701,685 shares in the company, valued at approximately $1,481,113,204. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,914,860 shares of company stock valued at $259,869,869. 27.21% of the stock is owned by company insiders.

Airbnb Stock Down 1.7%

ABNB opened at $141.88 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day simple moving average of $137.20 and a 200-day simple moving average of $132.76. The stock has a market capitalization of $85.51 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.55 and a beta of 1.16. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $147.27.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABNB. Susquehanna lifted their target price on Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Morgan Stanley downgraded Airbnb from an “underweight” rating to an “underweight” rating in a report on Monday, May 4th. Needham & Company LLC initiated coverage on shares of Airbnb in a research report on Monday, May 4th. They issued a “buy” rating on the stock. Citizens Jmp boosted their price objective on shares of Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.96.

About Airbnb

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.