Brighton Jones LLC Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Brighton Jones LLC cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 34.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,683 shares of the company’s stock after selling 34,406 shares during the period. Brighton Jones LLC’s holdings in Airbnb were worth $8,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ABNB. Transcendent Capital Group LLC purchased a new position in Airbnb in the first quarter valued at $25,000. New Millennium Group LLC acquired a new stake in shares of Airbnb during the 2nd quarter worth about $28,000. Heritage Wealth Advisors lifted its stake in Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in Airbnb during the first quarter worth approximately $33,000. Finally, Cultivar Capital Inc. acquired a new position in Airbnb in the second quarter valued at approximately $30,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

ABNB stock opened at $131.92 on Thursday. The firm has a 50 day moving average of $124.01 and a 200-day moving average of $139.47. The company has a market cap of $84.96 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.83 and a beta of 1.17. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month 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 the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, equities analysts expect that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ABNB shares. Wedbush reduced their price objective on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Susquehanna reduced their target price on Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have issued 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 a consensus target price of $135.35.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the firm’s 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 transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total transaction of $75,942.00. Following the sale, the chief technology officer now owns 205,774 shares of the company’s stock, valued at $26,044,815.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business’s 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 transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 405,571 shares of company stock worth $50,126,587 in the last three months. Corporate insiders own 27.83% of the company’s stock.

Airbnb 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.