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

Amalgamated Bank cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 91,961 shares of the company’s stock after selling 2,249 shares during the period. Amalgamated Bank’s holdings in Airbnb were worth $11,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in shares of Airbnb by 29.7% during the first quarter. Janney Montgomery Scott LLC now owns 62,176 shares of the company’s stock valued at $10,257,000 after buying an additional 14,232 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Airbnb by 418.5% in the first quarter. Larson Financial Group LLC now owns 980 shares of the company’s stock worth $162,000 after acquiring an additional 791 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of Airbnb during the first quarter valued at approximately $59,000. Csenge Advisory Group bought a new position in Airbnb during the first quarter valued at approximately $303,000. Finally, Texas Permanent School Fund Corp boosted its holdings in Airbnb by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 90,033 shares of the company’s stock worth $14,852,000 after purchasing an additional 272 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABNB. Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Monday, August 26th. UBS Group raised their target price on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna reduced their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research report on Wednesday, August 7th. Sanford C. Bernstein lowered their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada cut their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus price target of $135.35.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the transaction, the director now owns 16,472 shares in the company, valued at $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,806 shares of company stock worth $51,809,831. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $137.82 on Wednesday. The firm has a fifty day simple moving average of $127.29 and a two-hundred day simple moving average of $137.91. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $88.43 billion, a P/E ratio of 18.75, a PEG ratio of 1.93 and a beta of 1.15. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. On average, analysts expect that Airbnb, Inc. will post 4.17 earnings per share for the current fiscal year.

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.