Bank of New York Mellon Corp Cuts Position in Airbnb, Inc. $ABNB

Bank of New York Mellon Corp lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,443,826 shares of the company’s stock after selling 88,654 shares during the period. Bank of New York Mellon Corp owned 0.40% of Airbnb worth $308,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC boosted its stake in Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after acquiring an additional 112 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Entrust Financial LLC acquired a new stake in shares of Airbnb in the 4th quarter worth $27,000. Aventura Private Wealth LLC purchased a new position in Airbnb during the 4th quarter worth $29,000. Finally, Sunbelt Securities Inc. increased its position in Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 294,903 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the sale, the chief executive officer directly owned 11,206,389 shares in the company, valued at approximately $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,325,429 shares of company stock valued at $321,925,435. Corporate insiders own 27.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. HSBC cut shares of Airbnb from a “hold” rating to a “hold” rating in a research note on Monday, May 4th. Citigroup reiterated an “outperform” rating on shares of Airbnb in a research note on Friday, May 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Wedbush initiated coverage on Airbnb in a research report on Thursday. They issued a “neutral” rating and a $152.00 target price on the stock. Finally, Benchmark raised their target price on Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Airbnb has a consensus rating of “Moderate Buy” and an average price target of $159.84.

Airbnb Stock Down 1.2%

Airbnb stock opened at $145.98 on Friday. The business’s 50-day moving average price is $139.13 and its 200 day moving average price is $134.42. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The firm has a market cap of $87.98 billion, a price-to-earnings ratio of 35.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.62 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Key Headlines Impacting Airbnb

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Wedbush initiated coverage with a neutral rating and a $152 price target, implying modest upside from recent levels and signaling that analysts still see value in the shares. Article link
• Positive Sentiment: Jefferies reaffirmed its buy rating on Airbnb, supporting the view that Wall Street remains constructive on the company’s longer-term growth outlook. Article link
• Neutral Sentiment: Investors are watching Airbnb’s upcoming fiscal second-quarter earnings report, with analysts expecting double-digit earnings growth; results will likely determine whether the stock can extend recent momentum. Article link
• Neutral Sentiment: Airbnb co-founder Joseph Gebbia sold about $39 million in stock under a pre-arranged 10b5-1 plan. While not necessarily a bearish signal, insider selling can create some investor caution. Article link
• Negative Sentiment: CEO Brian Chesky’s X account was reportedly hacked and used to promote crypto tokenization posts. The incident does not directly affect fundamentals, but it is a reputational and security-related distraction for the company. Article link

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.