ING Groep NV Trims Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

ING Groep NV cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 9.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,564 shares of the company’s stock after selling 9,882 shares during the period. ING Groep NV’s holdings in Airbnb were worth $11,358,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb during the first quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in Airbnb in the 2nd quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in Airbnb in the first quarter valued at approximately $33,000. Cultivar Capital Inc. acquired a new position in Airbnb during the second quarter worth $30,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Airbnb during the third quarter worth $25,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Up 1.4 %

ABNB stock opened at $134.56 on Friday. 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 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $86.34 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15. The company has a fifty day moving average price of $130.62 and a 200 day moving average price of $136.94.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the company posted $2.39 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value 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 approximately $1,597,909,440. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the business’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 transaction, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 72.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ABNB. Cantor Fitzgerald reissued an “underweight” rating and set a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. UBS Group raised their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Truist Financial decreased their price target on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, TD Cowen upped their price objective on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $139.31.

Airbnb Company Profile

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.