GAMMA Investing LLC Sells 277 Shares of Airbnb, Inc. (NASDAQ:ABNB)

GAMMA Investing LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,887 shares of the company’s stock after selling 277 shares during the quarter. GAMMA Investing LLC’s holdings in Airbnb were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC bought a new position in Airbnb in the 1st quarter worth $25,000. Trust Co. of Vermont acquired a new position in shares of Airbnb during the 4th quarter worth about $27,000. New Millennium Group LLC bought a new stake in Airbnb during the 2nd quarter valued at approximately $28,000. Vima LLC acquired a new stake in Airbnb in the 4th quarter valued at approximately $29,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the 2nd quarter worth approximately $30,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABNB. Jefferies Financial Group reduced their price objective on Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Piper Sandler decreased their price target on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. TD Cowen cut their price objective on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays decreased their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group cut their price target on Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $134.23.

Airbnb Trading Down 2.0 %

ABNB opened at $132.81 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The stock has a market capitalization of $85.54 billion, a PE ratio of 17.78, a PEG ratio of 1.72 and a beta of 1.17. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $121.50 and a two-hundred day moving average price of $141.37.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $130.15, for a total transaction of $78,090.00. Following the completion of the sale, the chief technology officer now directly owns 194,044 shares of the company’s stock, valued at approximately $25,254,826.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the completion of the sale, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $130.15, for a total transaction of $78,090.00. Following the sale, the chief technology officer now owns 194,044 shares of the company’s stock, valued at $25,254,826.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 563,496 shares of company stock worth $74,262,814 over the last 90 days. Insiders own 27.83% of the company’s stock.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.