Profund Advisors LLC Sells 3,140 Shares of Airbnb, Inc. $ABNB

Profund Advisors LLC lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,380 shares of the company’s stock after selling 3,140 shares during the quarter. Profund Advisors LLC’s holdings in Airbnb were worth $6,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Meeder Asset Management Inc. increased its holdings in shares of Airbnb by 96.3% in the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Airbnb in the third quarter worth $35,000. Main Street Group LTD acquired a new position in Airbnb in the first quarter valued at approximately $29,000. Western Wealth Management LLC acquired a new position in shares of Airbnb in the first quarter valued at approximately $34,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Airbnb in the first quarter valued at $38,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 1.2%

Airbnb stock opened at $164.39 on Friday. The business has a fifty day moving average of $170.39 and a two-hundred day moving average of $146.67. The firm has a market cap of $98.44 billion, a P/E ratio of 37.36, a P/E/G ratio of 1.88 and a beta of 1.24. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. On average, analysts forecast that Airbnb, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, CAO David C. Bernstein sold 1,369 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $168.01, for a total transaction of $230,005.69. Following the completion of the transaction, the chief accounting officer directly owned 45,655 shares of the company’s stock, valued at approximately $7,670,496.55. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $170.81, for a total value of $2,325,578.15. Following the sale, the insider directly owned 20,567 shares in the company, valued at $3,513,049.27. This represents a 39.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,299,330 shares of company stock valued at $233,111,996 over the last three months. 27.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ABNB shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a report on Monday, October 12th. Truist Financial upped their price target on Airbnb from $134.00 to $161.00 and gave the company a “hold” rating in a research note on Thursday, September 10th. Argus boosted their target price on Airbnb from $165.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, August 21st. DA Davidson upped their price objective on shares of Airbnb from $175.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Finally, Oppenheimer boosted their target price on Airbnb from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.43.

Key Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
• Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
• Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
• Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.