iA Global Asset Management Inc. Trims Holdings in Airbnb, Inc. (NASDAQ:ABNB)

iA Global Asset Management Inc. cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 94.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,853 shares of the company’s stock after selling 725,885 shares during the quarter. iA Global Asset Management Inc.’s holdings in Airbnb were worth $5,688,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Airbnb in the 3rd quarter worth about $25,000. Hollencrest Capital Management lifted its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares during the period. New Millennium Group LLC acquired a new stake in shares of Airbnb in the second quarter worth approximately $28,000. Cultivar Capital Inc. purchased a new stake in Airbnb in the second quarter valued at approximately $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in Airbnb during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $136.97, for a total value of $1,438,185.00. Following the transaction, the chief financial officer now owns 503,738 shares of the company’s stock, valued at $68,996,993.86. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 748,465 shares of company stock worth $96,015,340 over the last 90 days. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABNB shares. Susquehanna boosted their price objective on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Monday, November 11th. Bank of America restated a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Mizuho reduced their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Airbnb in a research report on Friday, November 8th. Finally, Raymond James started coverage on shares of Airbnb in a research report on Friday, September 27th. They set a “market perform” rating and a $134.00 price target on the stock. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $138.94.

Airbnb Stock Up 0.4 %

NASDAQ:ABNB opened at $136.92 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $86.80 billion, a price-to-earnings ratio of 48.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The stock has a 50-day simple moving average of $134.92 and a 200 day simple moving average of $135.09.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion during 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 previous year, the business posted $2.39 EPS. Sell-side analysts predict that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

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.