Allen Investment Management LLC Sells 14,354 Shares of Airbnb, Inc. $ABNB

Allen Investment Management LLC lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 32.0% during the fourth quarter, Holdings Channel reports. The firm owned 30,538 shares of the company’s stock after selling 14,354 shares during the period. Allen Investment Management LLC’s holdings in Airbnb were worth $4,145,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ORG Partners LLC grew its stake in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Entrust Financial LLC acquired a new position in shares of Airbnb in the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Airbnb during the 3rd quarter worth approximately $25,000. Aventura Private Wealth LLC acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $143.00, for a total transaction of $536,250.00. Following the completion of the transaction, the chief financial officer owned 463,415 shares in the company, valued at approximately $66,268,345. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 2,739 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $131.40, for a total transaction of $359,904.60. Following the completion of the transaction, the insider owned 81,631 shares in the company, valued at $10,726,313.40. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 968,723 shares of company stock worth $130,478,651. 27.21% of the stock is owned by company insiders.

Airbnb Stock Performance

NASDAQ ABNB opened at $137.87 on Tuesday. The company has a market capitalization of $83.10 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.43 and a beta of 1.16. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $147.25. The stock has a fifty day simple moving average of $134.07 and a 200 day simple moving average of $130.37.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.91 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABNB. Citizens Jmp lifted their price target on Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Barclays upped their price objective on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. BMO Capital Markets raised their price objective on Airbnb from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Friday, February 13th. HSBC cut Airbnb from a “hold” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Truist Financial raised shares of Airbnb from a “sell” rating to a “hold” rating and increased their target price for the stock from $107.00 to $129.00 in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.67.

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.