Amalgamated Bank Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Amalgamated Bank lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,969 shares of the company’s stock after selling 1,992 shares during the period. Amalgamated Bank’s holdings in Airbnb were worth $11,823,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ABNB. Pacer Advisors Inc. grew its position in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Meritage Group LP acquired a new stake in shares of Airbnb during the third quarter worth $160,985,000. Principal Financial Group Inc. grew its holdings in shares of Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after buying an additional 1,185,892 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its position in shares of Airbnb by 91.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after acquiring an additional 1,109,076 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Down 2.3 %

Shares of NASDAQ ABNB opened at $141.55 on Wednesday. The firm’s 50-day moving average is $135.89 and its two-hundred day moving average is $131.49. The company has a market capitalization of $89.25 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 3.52 and a beta of 1.12. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABNB. B. Riley boosted their price target on Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. DA Davidson upped their target price on Airbnb from $131.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Bank of America raised their price target on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group raised shares of Airbnb from a “sell” rating to a “neutral” rating and upped their price objective for the company from $110.00 to $153.00 in a report on Friday, February 14th. Finally, Benchmark raised their target price on shares of Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.48.

Insider Activity at Airbnb

In other news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the sale, the chief accounting officer now owns 40,581 shares in the company, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $128.15, for a total value of $89,705.00. Following the completion of the transaction, the chief technology officer now owns 182,614 shares of the company’s stock, valued at $23,401,984.10. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,876,329 shares of company stock valued at $265,258,279. 27.83% of the stock is owned by insiders.

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.