Polen Capital Management LLC Sells 965,670 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Polen Capital Management LLC reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,216,914 shares of the company’s stock after selling 965,670 shares during the quarter. Airbnb comprises 2.9% of Polen Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Polen Capital Management LLC owned approximately 1.30% of Airbnb worth $1,079,785,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC boosted its position in shares of Airbnb by 6.8% during the third quarter. OneDigital Investment Advisors LLC now owns 2,223 shares of the company’s stock valued at $282,000 after purchasing an additional 142 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Airbnb by 58.6% during the third quarter. Empirical Finance LLC now owns 2,616 shares of the company’s stock valued at $332,000 after purchasing an additional 967 shares in the last quarter. Marathon Trading Investment Management LLC bought a new stake in shares of Airbnb during the third quarter valued at approximately $216,000. Quest Partners LLC boosted its position in shares of Airbnb by 3,643.9% during the third quarter. Quest Partners LLC now owns 2,134 shares of the company’s stock valued at $271,000 after purchasing an additional 2,077 shares in the last quarter. Finally, MKA Charitable Fund boosted its position in shares of Airbnb by 17.2% during the third quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after purchasing an additional 296,153 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABNB shares. B. Riley lifted their price target on Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Canaccord Genuity Group lifted their price objective on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities reiterated a “market perform” rating on shares of Airbnb in a research note on Friday, February 14th. Jefferies Financial Group upgraded Airbnb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $165.00 to $185.00 in a research note on Monday, March 10th. Finally, Wells Fargo & Company lowered their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $148.15.

Airbnb Stock Performance

NASDAQ:ABNB opened at $122.86 on Monday. The stock has a 50-day simple moving average of $136.23 and a two-hundred day simple moving average of $133.07. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $77.47 billion, a PE ratio of 29.75, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 230,772 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the transaction, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 183,078 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at approximately $26,046,300. This trade represents a 52.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,269,494 shares of company stock valued at $318,203,453 over the last 90 days. Company 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.