Huntington National Bank Trims Stake in Airbnb, Inc. (NASDAQ:ABNB)

Huntington National Bank cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,395 shares of the company’s stock after selling 185 shares during the period. Huntington National Bank’s holdings in Airbnb were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABNB. Shellback Capital LP bought a new position in Airbnb in the second quarter worth $22,744,000. J.W. Cole Advisors Inc. grew its holdings in Airbnb by 86.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after purchasing an additional 2,132 shares during the period. Bradley Foster & Sargent Inc. CT increased its position in Airbnb by 1,231.3% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after buying an additional 19,183 shares in the last quarter. Plato Investment Management Ltd raised its stake in Airbnb by 2.7% during the second quarter. Plato Investment Management Ltd now owns 13,493 shares of the company’s stock valued at $2,046,000 after buying an additional 358 shares during the last quarter. Finally, Diversify Wealth Management LLC bought a new stake in Airbnb in the second quarter worth $4,641,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler upped their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Bank of America reiterated a “hold” rating and issued a $142.00 price target (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. TD Cowen lifted their target price on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group upped their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy 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 $139.31.

Airbnb Stock Down 1.5 %

Shares of ABNB opened at $132.50 on Friday. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year 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 business’s 50 day simple moving average is $130.99 and its 200-day simple moving average is $136.58. The stock has a market capitalization of $85.01 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the company earned $2.39 earnings per share. As a group, equities analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This represents a 0.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction on Tuesday, October 1st. The stock was 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 in the company, valued at approximately $2,083,378.56. The trade was a 72.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 417,806 shares of company stock valued at $51,809,831 over the last three months. 27.83% of the stock is owned by company 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.