Ethic Inc. Reduces Stock Holdings in Airbnb, Inc. $ABNB

Ethic Inc. reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,825 shares of the company’s stock after selling 5,158 shares during the quarter. Ethic Inc.’s holdings in Airbnb were worth $4,957,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kentucky Trust Co purchased a new position in shares of Airbnb in the second quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Airbnb by 70.9% during 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 position in Airbnb in the second quarter worth approximately $28,000. Whipplewood Advisors LLC boosted its stake in shares of Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after acquiring an additional 160 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Airbnb by 363.6% during the 2nd 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. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 0.2%

NASDAQ:ABNB opened at $136.91 on Wednesday. The stock has a 50-day moving average price of $125.09 and a 200 day moving average price of $127.42. The stock has a market capitalization of $84.27 billion, a P/E ratio of 32.52, a P/E/G ratio of 2.40 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 quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company earned $2.13 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABNB has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Airbnb from $111.00 to $118.00 and gave the stock an “underweight” rating in a research note on Monday, December 1st. Mizuho set a $156.00 price target on Airbnb in a research report on Friday, November 7th. BNP Paribas Exane assumed coverage on Airbnb in a research note on Monday, November 24th. They issued a “neutral” rating on the stock. Jefferies Financial Group boosted their price objective on Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, DA Davidson reissued a “buy” rating and issued a $155.00 target price on shares of Airbnb in a report on Friday, December 5th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average target price of $144.48.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the completion of the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 51,230 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the transaction, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at $6,014,210.64. This trade represents a 52.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,518,606 shares of company stock worth $185,179,640. 27.83% of the stock is owned by insiders.

Airbnb Company 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.