Airbnb, Inc. $ABNB Shares Sold by Grove Bank & Trust

Grove Bank & Trust trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 35.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,582 shares of the company’s stock after selling 7,937 shares during the quarter. Grove Bank & Trust’s holdings in Airbnb were worth $1,771,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. New England Research & Management Inc. boosted its stake in shares of Airbnb by 77.1% in the third quarter. New England Research & Management Inc. now owns 12,400 shares of the company’s stock valued at $1,506,000 after purchasing an additional 5,400 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Airbnb by 404.5% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 17,866 shares of the company’s stock worth $2,169,000 after buying an additional 14,325 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in Airbnb by 4.3% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 20,089 shares of the company’s stock valued at $2,439,000 after buying an additional 825 shares during the period. Roxbury Financial LLC grew its stake in shares of Airbnb by 12,600.0% in the third quarter. Roxbury Financial LLC now owns 762 shares of the company’s stock worth $93,000 after acquiring an additional 756 shares in the last quarter. Finally, Farmers Trust Co. increased its position in shares of Airbnb by 894.8% during the third quarter. Farmers Trust Co. now owns 20,573 shares of the company’s stock worth $2,498,000 after acquiring an additional 18,505 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $123.57, for a total value of $29,162,520.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the transaction, the insider owned 11,520 shares in the company, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,611,828 shares of company stock worth $195,591,707. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Trading Up 2.7%

Shares of Airbnb stock opened at $131.81 on Tuesday. The company has a fifty day simple moving average of $122.22 and a 200-day simple moving average of $127.42. The stock has a market cap of $81.14 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.26 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 posted its earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm posted $2.13 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, December 5th. KeyCorp assumed coverage on shares of Airbnb in a report on Thursday, October 23rd. They issued a “sector weight” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Truist Financial raised their price objective on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a report on Thursday, December 4th. Finally, Barclays lifted their price objective on shares of Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $143.88.

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.