Lmcg Investments LLC Trims Position in Airbnb, Inc. (NASDAQ:ABNB)

Lmcg Investments LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,278 shares of the company’s stock after selling 1,014 shares during the quarter. Lmcg Investments LLC’s holdings in Airbnb were worth $5,051,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in Airbnb during the 4th quarter worth approximately $1,445,000. EFG Asset Management Americas Corp. purchased a new position in Airbnb during the 4th quarter worth approximately $4,406,000. Jones Financial Companies Lllp raised its position in Airbnb by 43.0% during the 4th quarter. Jones Financial Companies Lllp now owns 7,166 shares of the company’s stock worth $942,000 after buying an additional 2,155 shares during the last quarter. Vested Financial Planning LLC purchased a new position in Airbnb during the 4th quarter worth approximately $262,000. Finally, Deutsche Bank AG raised its position in Airbnb by 11.5% during the 4th quarter. Deutsche Bank AG now owns 1,480,314 shares of the company’s stock worth $194,528,000 after buying an additional 153,020 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABNB has been the topic of a number of analyst reports. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a research note on Friday, May 2nd. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $110.00 to $153.00 in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Finally, Hsbc Global Res raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $141.23.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $126.60, for a total transaction of $4,869,162.60. Following the completion of the transaction, the chief executive officer now directly owns 11,770,144 shares of the company’s stock, valued at approximately $1,490,100,230.40. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 4,809 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $128.85, for a total value of $619,639.65. Following the transaction, the chief financial officer now directly owns 473,861 shares of the company’s stock, valued at approximately $61,056,989.85. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,635,768 shares of company stock valued at $201,921,499. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

NASDAQ ABNB opened at $133.51 on Thursday. The company has a market cap of $83.63 billion, a P/E ratio of 32.33, a P/E/G ratio of 3.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a 50-day moving average of $122.87 and a two-hundred day moving average of $130.66. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, 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.