Exchange Traded Concepts LLC Sells 4,977 Shares of Airbnb, Inc. $ABNB

Exchange Traded Concepts LLC lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 26.7% during the third quarter, Holdings Channel reports. The institutional investor owned 13,680 shares of the company’s stock after selling 4,977 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Airbnb were worth $1,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Airbnb by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company’s stock worth $387,186,000 after purchasing an additional 31,120 shares in the last quarter. Plato Investment Management Ltd grew its stake in Airbnb by 53.1% during the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock worth $2,291,000 after buying an additional 6,579 shares during the last quarter. Acadian Asset Management LLC grew its stake in Airbnb by 52.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock worth $293,590,000 after buying an additional 850,719 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Airbnb by 5.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 159,676 shares of the company’s stock valued at $21,132,000 after buying an additional 8,605 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Airbnb by 52.7% in the second quarter. Cetera Investment Advisers now owns 112,460 shares of the company’s stock valued at $14,883,000 after buying an additional 38,822 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 36,370 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $123.24, for a total value of $4,482,238.80. Following the sale, the insider owned 11,520 shares in the company, valued at approximately $1,419,724.80. This represents a 75.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Elinor Mertz sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $130.00, for a total transaction of $975,000.00. Following the sale, the chief financial officer directly owned 418,030 shares in the company, valued at $54,343,900. The trade was a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,754,606 shares of company stock valued at $214,342,160 over the last 90 days. Company insiders own 27.91% of the company’s stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $136.82 on Friday. The company’s fifty day moving average price is $124.73 and its 200-day moving average price is $127.58. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market capitalization of $84.22 billion, a P/E ratio of 32.50, a PEG ratio of 2.41 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of research analyst reports. Barclays boosted their price target on Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Friday, November 7th. Wells Fargo & Company boosted their target price on shares of Airbnb from $111.00 to $118.00 and gave the stock an “underweight” rating in a research report on Monday, December 1st. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane assumed coverage on Airbnb in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $144.48.

Airbnb Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.