Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by GFG Capital LLC

GFG Capital LLC lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 29.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 50,185 shares of the company’s stock after selling 21,433 shares during the period. Airbnb accounts for approximately 1.8% of GFG Capital LLC’s portfolio, making the stock its 17th biggest position. GFG Capital LLC’s holdings in Airbnb were worth $5,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. MJP Associates Inc. ADV lifted its holdings in Airbnb by 1.8% during the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after acquiring an additional 67 shares in the last quarter. Ellevest Inc. raised its stake in Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after purchasing an additional 80 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Airbnb by 4.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after purchasing an additional 83 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Airbnb by 7.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock valued at $176,000 after acquiring an additional 90 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Airbnb by 3.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,490 shares of the company’s stock worth $327,000 after purchasing an additional 91 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABNB. Canaccord Genuity Group cut their price target on Airbnb from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Cantor Fitzgerald reiterated an “underweight” rating and set a $100.00 price target on shares of Airbnb in a research report on Wednesday, May 14th. JMP Securities reissued a “market perform” rating on shares of Airbnb in a research note on Friday, May 2nd. Susquehanna lowered their price objective on shares of Airbnb from $200.00 to $150.00 and set a “positive” rating for the company in a research note on Monday, May 5th. Finally, Robert W. Baird dropped their price target on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $141.47.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $129.46, for a total value of $30,552,560.00. Following the sale, the director directly owned 944,015 shares in the company, valued at $122,212,181.90. This represents a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the sale, the chief financial officer directly owned 467,611 shares of the company’s stock, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,386,893 shares of company stock valued at $177,637,178. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $136.99 on Wednesday. The business’s fifty day moving average is $132.24 and its 200-day moving average is $130.57. The firm has a market cap of $85.81 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

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 analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. On average, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb Company 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.