Cullinan Associates Inc. Sells 27,214 Shares of Airbnb, Inc. $ABNB

Cullinan Associates Inc. reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 33.5% in the 4th quarter, Holdings Channel reports. The firm owned 54,022 shares of the company’s stock after selling 27,214 shares during the quarter. Cullinan Associates Inc.’s holdings in Airbnb were worth $7,332,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABNB. Caxton Associates LLP bought a new position in Airbnb during the 1st quarter worth $258,000. Intech Investment Management LLC grew its holdings in Airbnb by 55.8% during the 1st quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after acquiring an additional 4,353 shares during the period. Sivia Capital Partners LLC grew its holdings in Airbnb by 18.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after acquiring an additional 927 shares during the period. WINTON GROUP Ltd acquired a new stake in Airbnb during the 2nd quarter worth about $411,000. Finally, NewEdge Advisors LLC grew its holdings in Airbnb by 9.8% during the 2nd quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock worth $7,153,000 after acquiring an additional 4,811 shares during the period. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 24,788 shares of Airbnb stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $145.86, for a total transaction of $3,615,577.68. Following the completion of the transaction, the insider owned 11,920 shares in the company, valued at approximately $1,738,651.20. The trade was a 67.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $126.16, for a total value of $7,317,280.00. Following the transaction, the director owned 170,015 shares of the company’s stock, valued at $21,449,092.40. This trade represents a 25.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 399,075 shares of company stock worth $52,168,585. Insiders own 27.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $135.00 price target on shares of Airbnb in a report on Monday. Benchmark decreased their price target on Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 13th. Tigress Financial decreased their price target on Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company upgraded Airbnb from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $136.00 to $178.00 in a report on Wednesday, April 22nd. Finally, DA Davidson decreased their price target on Airbnb from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.43.

Airbnb Stock Performance

ABNB stock opened at $140.36 on Friday. The company has a market capitalization of $85.44 billion, a P/E ratio of 34.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $147.25. The business has a 50-day simple moving average of $132.54 and a two-hundred day simple moving average of $128.85.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. Airbnb’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.94 earnings per share for the current fiscal year.

Airbnb Company 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.