Airbnb, Inc. $ABNB Stock Position Decreased by Cullinan Associates Inc.

Cullinan Associates Inc. cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 30.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,236 shares of the company’s stock after selling 35,700 shares during the quarter. Cullinan Associates Inc.’s holdings in Airbnb were worth $10,751,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Sendero Wealth Management LLC boosted its holdings in Airbnb by 9.9% in the second quarter. Sendero Wealth Management LLC now owns 65,609 shares of the company’s stock worth $8,683,000 after purchasing an additional 5,918 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Airbnb in the second quarter worth about $833,000. MGO Private Wealth LLC bought a new stake in shares of Airbnb during the 2nd quarter worth about $201,000. Mount Vernon Associates Inc. MD boosted its stake in shares of Airbnb by 8.9% during the 2nd quarter. Mount Vernon Associates Inc. MD now owns 9,015 shares of the company’s stock worth $1,193,000 after acquiring an additional 740 shares in the last quarter. Finally, Vested Financial Planning LLC increased its holdings in shares of Airbnb by 15.0% during the 2nd quarter. Vested Financial Planning LLC now owns 2,496 shares of the company’s stock valued at $330,000 after acquiring an additional 325 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of recent analyst reports. Mizuho initiated coverage on Airbnb in a research report on Monday, September 29th. They set an “outperform” rating and a $151.00 target price for the company. Truist Financial lowered their target price on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a research note on Wednesday, September 3rd. UBS Group dropped their target price on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Citizens Jmp upgraded shares of Airbnb to a “hold” rating in a report on Monday, August 11th. Finally, Wedbush lowered their price target on Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $141.81.

Airbnb Trading Down 1.0%

Shares of Airbnb stock opened at $120.22 on Monday. The stock has a market capitalization of $74.71 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.19 and a beta of 1.10. The firm’s 50-day moving average price is $125.86 and its two-hundred day moving average price is $127.59. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company earned $0.86 EPS. Airbnb’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $122.91, for a total transaction of $73,746.00. Following the transaction, the chief technology officer owned 199,006 shares of the company’s stock, valued at $24,459,827.46. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the transaction, the director owned 940,015 shares in the company, valued at approximately $116,157,653.55. The trade was a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,431,476 shares of company stock valued at $182,776,618 over the last three months. 27.83% of the stock is owned by company insiders.

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.