KBC Group NV Sells 193,218 Shares of Airbnb, Inc. (NASDAQ:ABNB)

KBC Group NV cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 69.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 86,608 shares of the company’s stock after selling 193,218 shares during the period. KBC Group NV’s holdings in Airbnb were worth $10,983,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABNB. ICICI Prudential Asset Management Co Ltd lifted its stake in Airbnb by 18.5% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 5,744 shares of the company’s stock valued at $728,000 after purchasing an additional 895 shares during the last quarter. Credit Capital Investments LLC bought a new stake in Airbnb in the third quarter valued at approximately $330,000. Oppenheimer & Co. Inc. raised its stake in Airbnb by 13.3% in the third quarter. Oppenheimer & Co. Inc. now owns 34,526 shares of the company’s stock valued at $4,378,000 after buying an additional 4,052 shares during the period. MQS Management LLC lifted its position in shares of Airbnb by 26.3% in the third quarter. MQS Management LLC now owns 3,002 shares of the company’s stock valued at $381,000 after buying an additional 626 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Airbnb by 40.7% during the 3rd quarter. Victory Capital Management Inc. now owns 716,230 shares of the company’s stock worth $90,825,000 after acquiring an additional 207,062 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABNB. Wedbush raised their price target on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup raised their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday, November 8th. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group decreased their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $139.31.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 417,806 shares of company stock worth $51,809,831. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.5 %

Shares of NASDAQ ABNB opened at $132.50 on Friday. The company has a market cap of $85.01 billion, a price-to-earnings ratio of 46.49, a PEG ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a 50-day moving average price of $130.99 and a two-hundred day moving average price of $136.58.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the company earned $2.39 earnings per share. As a group, analysts forecast that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

Airbnb Company Profile

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.