SageView Advisory Group LLC Sells 684 Shares of Airbnb, Inc. (NASDAQ:ABNB)

SageView Advisory Group LLC lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 11.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,110 shares of the company’s stock after selling 684 shares during the period. SageView Advisory Group LLC’s holdings in Airbnb were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Airbnb in the 3rd quarter valued at $34,982,000. J.W. Cole Advisors Inc. boosted its position in Airbnb by 86.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after buying an additional 2,132 shares in the last quarter. Shellback Capital LP acquired a new position in Airbnb in the second quarter valued at about $22,744,000. Bradley Foster & Sargent Inc. CT grew its stake in Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after buying an additional 19,183 shares during the last quarter. Finally, Infusive Asset Management Inc. acquired a new stake in shares of Airbnb during the third quarter worth approximately $1,769,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $136.92 on Friday. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The stock has a market cap of $86.80 billion, a PE ratio of 48.04, a P/E/G ratio of 1.95 and a beta of 1.13. The firm has a 50-day moving average of $134.75 and a 200-day moving average of $135.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

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 the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business earned $2.39 earnings per share. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.02 EPS for the current year.

Insider Activity at Airbnb

In other news, insider Nathan Blecharczyk sold 9,603 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at $23,501,280. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 748,465 shares of company stock worth $96,015,340 in the last ninety days. 27.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen increased their price target on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein dropped their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Wells Fargo & Company lifted their price target on shares of Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Finally, Susquehanna lifted their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus price target of $138.94.

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.