Airbnb, Inc. $ABNB Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 4.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,228,354 shares of the company’s stock after selling 57,476 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Airbnb were worth $197,335,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wedmont Private Capital increased its position in shares of Airbnb by 1.7% during the 2nd quarter. Wedmont Private Capital now owns 4,517 shares of the company’s stock valued at $671,000 after purchasing an additional 75 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in shares of Airbnb by 1.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock worth $727,000 after buying an additional 76 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Airbnb by 11.4% in the second quarter. Parkside Financial Bank & Trust now owns 800 shares of the company’s stock valued at $114,000 after buying an additional 82 shares during the period. Fermata Advisors LLC lifted its holdings in shares of Airbnb by 5.7% in the third quarter. Fermata Advisors LLC now owns 1,645 shares of the company’s stock valued at $264,000 after buying an additional 88 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC boosted its stake in Airbnb by 3.0% during the second quarter. Norman Fields Gottscho Capital Management LLC now owns 3,085 shares of the company’s stock valued at $441,000 after buying an additional 90 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Price Performance

Airbnb stock opened at $164.39 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $193.45. The firm’s fifty day simple moving average is $170.39 and its 200-day simple moving average is $146.67. The company has a market capitalization of $98.44 billion, a P/E ratio of 37.36, a P/E/G ratio of 1.88 and a beta of 1.26.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. Airbnb’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 5.29 earnings per share for the current fiscal year.

More Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
• Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
• Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
• Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABNB. Jefferies Financial Group boosted their target price on shares of Airbnb from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Airbnb from a “buy” rating to a “hold” rating in a report on Sunday, October 4th. Susquehanna lifted their price target on shares of Airbnb from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $190.00 price target (up from $175.00) on shares of Airbnb in a research report on Monday, August 31st. Finally, Cantor Fitzgerald began coverage on Airbnb in a report on Friday, October 2nd. They issued an “overweight” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $182.43.

Insider Activity at Airbnb

In other Airbnb news, CAO David Bernstein sold 1,369 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $168.01, for a total value of $230,005.69. Following the completion of the transaction, the chief accounting officer directly owned 45,655 shares of the company’s stock, valued at approximately $7,670,496.55. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $170.81, for a total transaction of $2,325,578.15. Following the sale, the insider owned 20,567 shares of the company’s stock, valued at approximately $3,513,049.27. This represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,281,967 shares of company stock valued at $230,470,521. Company insiders own 27.21% of the company’s stock.

Airbnb Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.