Harel Insurance Investments & Financial Services Ltd. Cuts Stock Holdings in Airbnb, Inc. $ABNB

Harel Insurance Investments & Financial Services Ltd. reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 59.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,885 shares of the company’s stock after selling 8,570 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Airbnb were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ABNB. Harris Associates L P raised its holdings in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock worth $334,715,000 after purchasing an additional 2,685,026 shares in the last quarter. AQR Capital Management LLC raised its holdings in Airbnb by 81.0% during the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Airbnb during the second quarter worth about $170,189,000. Finally, Consulta Ltd purchased a new position in Airbnb during the first quarter worth about $149,325,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ABNB shares. UBS Group cut their price target on shares of Airbnb from $148.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Barclays set a $105.00 target price on shares of Airbnb and gave the stock an “underweight” rating in a research report on Thursday, August 7th. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Zacks Research upgraded shares of Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Finally, 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 report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.70.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $127.53, for a total value of $76,518.00. Following the sale, the chief technology officer directly owned 196,606 shares in the company, valued at $25,073,163.18. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $130.00, for a total transaction of $975,000.00. Following the completion of the sale, the chief financial officer owned 436,570 shares in the company, valued at $56,754,100. This represents a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,446,160 shares of company stock worth $179,651,147 over the last ninety days. 27.83% of the stock is currently owned by insiders.

Airbnb Price Performance

ABNB stock opened at $126.54 on Monday. The company’s 50 day simple moving average is $124.55 and its 200-day simple moving average is $128.57. The firm has a market capitalization of $78.64 billion, a PE ratio of 30.64, a P/E/G ratio of 2.31 and a beta of 1.11. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month 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, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.