Madison Asset Management LLC Sells 29,532 Shares of Airbnb, Inc. $ABNB

Madison Asset Management LLC lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 332,791 shares of the company’s stock after selling 29,532 shares during the quarter. Madison Asset Management LLC’s holdings in Airbnb were worth $42,025,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Transamerica Financial Advisors LLC increased its stake in shares of Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after buying an additional 112 shares in the last quarter. ORG Partners LLC lifted its position in Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Entrust Financial LLC acquired a new position in Airbnb during the 4th quarter worth about $27,000. Aventura Private Wealth LLC bought a new stake in Airbnb during the 4th quarter worth about $29,000. Finally, Meeder Asset Management Inc. grew its holdings in Airbnb by 96.3% during the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Airbnb stock opened at $144.94 on Tuesday. The company has a market cap of $87.36 billion, a PE ratio of 35.70, a PEG ratio of 1.56 and a beta of 1.14. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $150.88. The company’s 50-day moving average is $139.29 and its two-hundred day moving average is $134.46.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities analysts anticipate that Airbnb, Inc. will post 4.92 earnings per share for the current year.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 88,366 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total value of $12,884,646.46. Following the transaction, the insider directly owned 12,370 shares of the company’s stock, valued at approximately $1,803,669.70. This trade represents a 87.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the sale, the director directly owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. This represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,256,652 shares of company stock worth $312,089,856 over the last ninety days. Company insiders own 27.21% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the subject of a number of research analyst reports. UBS Group boosted their target price on shares of Airbnb from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Oppenheimer raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Monday, May 4th. HC Wainwright raised shares of Airbnb to a “buy” rating in a report on Monday, May 4th. Citigroup restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Finally, Wells Fargo & Company upped their price objective on Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

Airbnb Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.