Airbnb, Inc. $ABNB Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 2.9% in the second quarter, Holdings Channel.com reports. The fund owned 4,798 shares of the company’s stock after selling 143 shares during the quarter. Tectonic Advisors LLC’s holdings in Airbnb were worth $635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock worth $4,475,286,000 after buying an additional 604,120 shares during the last quarter. Harris Associates L P raised its stake in shares of Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Northern Trust Corp raised its stake in shares of Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock worth $525,979,000 after buying an additional 106,135 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after buying an additional 1,916,676 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ABNB shares. Morgan Stanley decreased their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Mizuho started coverage on Airbnb in a research note on Monday, September 29th. They issued an “outperform” rating and a $151.00 target price for the company. BMO Capital Markets set a $124.00 target price on Airbnb and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a “hold” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.81.

Airbnb Stock Up 0.1%

NASDAQ:ABNB opened at $120.15 on Friday. The company has a market cap of $74.67 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.19 and a beta of 1.10. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm’s 50 day moving average is $124.54 and its two-hundred day moving average is $127.36.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. Airbnb’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. Research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at approximately $22,850,752.80. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,430,876 shares of company stock worth $182,694,292 in the last quarter. Company insiders own 27.91% 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.