Airbnb, Inc. $ABNB Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.2% during the second quarter, Holdings Channel reports. The firm owned 25,608 shares of the company’s stock after selling 5,326 shares during the period. Cresset Asset Management LLC’s holdings in Airbnb were worth $3,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Kentucky Trust Co acquired a new position in Airbnb during the 2nd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after buying an additional 83 shares during the last quarter. Concord Wealth Partners bought a new stake in Airbnb in the second quarter valued at $28,000. Whipplewood Advisors LLC boosted its holdings in shares of Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after acquiring an additional 160 shares during the period. Finally, Armstrong Advisory Group Inc. grew its position in shares of Airbnb by 363.6% during the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABNB. Mizuho set a $156.00 price objective on shares of Airbnb in a research report on Friday, November 7th. Wells Fargo & Company lifted their price target on Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a report on Monday, December 1st. UBS Group boosted their price objective on Airbnb from $145.00 to $147.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Wedbush restated a “neutral” rating and issued a $130.00 target price on shares of Airbnb in a research report on Friday, November 7th. Finally, BNP Paribas assumed coverage on Airbnb in a research note on Monday, November 24th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus target price of $143.88.

Airbnb Stock Up 2.9%

NASDAQ:ABNB opened at $124.32 on Monday. The business’s 50-day moving average price is $121.53 and its 200 day moving average price is $127.45. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a market cap of $76.53 billion, a P/E ratio of 29.53, a PEG ratio of 2.19 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $2.13 earnings per share. Airbnb’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 77,527 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $120.52, for a total transaction of $9,343,554.04. Following the completion of the sale, the insider directly owned 53,298 shares in the company, valued at approximately $6,423,474.96. This trade represents a 59.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $118.47, for a total transaction of $6,871,260.00. Following the completion of the transaction, the director owned 692,015 shares in the company, valued at approximately $81,983,017.05. This trade represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,575,867 shares of company stock valued at $190,875,764 in the last ninety days. Company insiders own 27.83% of the company’s stock.

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.