Define Financial LLC Sells 27,166 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Define Financial LLC lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 87.4% in the first quarter, Holdings Channel reports. The institutional investor owned 3,919 shares of the company’s stock after selling 27,166 shares during the period. Airbnb accounts for approximately 0.3% of Define Financial LLC’s holdings, making the stock its 15th biggest position. Define Financial LLC’s holdings in Airbnb were worth $449,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Airbnb by 3.3% in the 1st quarter. Fifth Third Bancorp now owns 22,999 shares of the company’s stock valued at $2,747,000 after buying an additional 729 shares during the period. Simon Quick Advisors LLC raised its position in Airbnb by 68.5% in the first quarter. Simon Quick Advisors LLC now owns 6,533 shares of the company’s stock worth $780,000 after purchasing an additional 2,655 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock worth $179,991,000 after purchasing an additional 820,887 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in Airbnb by 8.1% during the first quarter. Integrated Advisors Network LLC now owns 2,387 shares of the company’s stock worth $285,000 after purchasing an additional 179 shares during the period. Finally, Abacus FCF Advisors LLC boosted its holdings in Airbnb by 134.1% during the first quarter. Abacus FCF Advisors LLC now owns 116,906 shares of the company’s stock valued at $13,966,000 after purchasing an additional 66,974 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.4%

Shares of Airbnb stock opened at $138.06 on Thursday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The business’s 50 day simple moving average is $125.06 and its 200 day simple moving average is $130.82. The firm has a market cap of $86.48 billion, a PE ratio of 33.43, a P/E/G ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) 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 business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABNB has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Airbnb from $160.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Baird R W upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Wedbush downgraded shares of Airbnb from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $150.00 to $135.00 in a research note on Friday, May 2nd. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 target price for the company in a research report on Friday, February 14th. Finally, Wells Fargo & Company lifted their price target on shares of Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.23.

Insider Activity

In other news, CEO Brian Chesky sold 38,461 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $126.60, for a total value of $4,869,162.60. Following the sale, the chief executive officer now directly owns 11,770,144 shares of the company’s stock, valued at approximately $1,490,100,230.40. This represents a 0.33% 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, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the completion of the sale, the director now owns 1,416,015 shares of the company’s stock, valued at $182,184,489.90. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,663,033 shares of company stock valued at $208,384,185. 27.91% of the stock is owned by insiders.

About Airbnb

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.