Amova Asset Management Americas Inc. Sells 77,752 Shares of Airbnb, Inc. $ABNB

Amova Asset Management Americas Inc. trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 9.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 751,429 shares of the company’s stock after selling 77,752 shares during the quarter. Airbnb makes up 1.2% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 26th largest position. Amova Asset Management Americas Inc.’s holdings in Airbnb were worth $101,984,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ABNB. Harris Associates L P increased its position in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after buying an additional 4,292,383 shares during the period. Independent Franchise Partners LLP bought a new position in shares of Airbnb in the third quarter valued at approximately $505,672,000. Norges Bank purchased a new position in Airbnb during the fourth quarter valued at approximately $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after acquiring an additional 2,724,682 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Airbnb by 58.6% during the 3rd quarter. AQR Capital Management LLC now owns 4,269,937 shares of the company’s stock worth $518,456,000 after acquiring an additional 1,577,338 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 265,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $135.45, for a total value of $35,894,250.00. Following the transaction, the director directly owned 3,182,355 shares of the company’s stock, valued at approximately $431,049,984.75. This represents a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 7,433 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $136.24, for a total value of $1,012,671.92. Following the sale, the chief financial officer directly owned 449,040 shares in the company, valued at $61,177,209.60. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,635,218 shares of company stock valued at $220,923,305. 27.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on ABNB shares. Citizens Jmp raised their price target on shares of Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. UBS Group increased their price objective on Airbnb from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Scotiabank initiated coverage on Airbnb in a research note on Monday, May 4th. They set an “outperform” rating for the company. Wells Fargo & Company boosted their target price on Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Susquehanna upped their target price on Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.76.

Airbnb Price Performance

Shares of Airbnb stock opened at $131.35 on Wednesday. The company’s fifty day simple moving average is $134.55 and its two-hundred day simple moving average is $131.00. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $147.25. The firm has a market cap of $79.17 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.44 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 (NASDAQ:ABNB) last released 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). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 17.9% on a year-over-year basis. As a group, equities analysts expect that Airbnb, Inc. will post 4.91 EPS for the current year.

More Airbnb News

Here are the key news stories impacting Airbnb this week:

• Negative Sentiment: CEO Brian Chesky disclosed multiple stock sales over the past several sessions, including a recent sale of 16,515 shares and a larger sale of 64,333 shares, which can weigh on sentiment even though he still owns a very large stake. Article Title
• Negative Sentiment: A separate report highlighted a sharp increase in short interest activity in Airbnb, reinforcing the idea that some traders are positioning for more downside or caution in the near term.
• Neutral Sentiment: Airbnb remains supported by longer-term analyst optimism, with a consensus “Moderate Buy” rating and an average price target above current trading levels, but that has not been enough to offset the recent insider-sale headlines.
• Neutral Sentiment: The company’s fundamentals remain solid overall, with revenue growth in the latest quarter and continued profitability, but the most recent earnings report also showed an EPS miss, which may limit enthusiasm. Article Title

About Airbnb

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.