Airbnb, Inc. $ABNB Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 41.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,338 shares of the company’s stock after selling 7,458 shares during the quarter. Sterling Capital Management LLC’s holdings in Airbnb were worth $1,305,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABNB. Harris Associates L P increased its position in Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Independent Franchise Partners LLP acquired a new position in shares of Airbnb in the 3rd quarter valued at $505,672,000. Norges Bank purchased a new stake in shares of Airbnb during the 4th quarter valued at $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after buying an additional 2,724,682 shares during the period. Finally, SRS Investment Management LLC acquired a new stake in shares of Airbnb during the 4th quarter worth $342,017,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 2,113 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $145.09, for a total value of $306,575.17. Following the completion of the sale, the insider owned 12,370 shares in the company, valued at approximately $1,794,763.30. This trade represents a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elinor Mertz sold 7,433 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $136.24, for a total value of $1,012,671.92. Following the sale, the chief financial officer owned 449,040 shares in the company, valued at approximately $61,177,209.60. The trade was a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,005,339 shares of company stock worth $273,061,091 over the last three months. 27.21% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $147.17 on Tuesday. The firm’s fifty day simple moving average is $137.54 and its 200 day simple moving average is $133.08. 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 twelve month low of $110.81 and a twelve month high of $150.19. The firm has a market capitalization of $88.70 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 1.56 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities research analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABNB. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $170.00 target price on shares of Airbnb in a research report on Friday, May 8th. Royal Bank Of Canada restated an “outperform” rating and set a $173.00 price target on shares of Airbnb in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on Airbnb from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Truist Financial lifted their price objective on Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Finally, Robert W. Baird boosted their target price on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.36.

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.