Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 16.6% in the 4th quarter, Holdings Channel reports. The fund owned 1,602 shares of the company’s stock after selling 320 shares during the period. New Century Financial Group LLC’s holdings in Airbnb were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABNB. Verde Capital Management grew its stake in Airbnb by 25.3% during the 4th quarter. Verde Capital Management now owns 21,118 shares of the company’s stock valued at $2,775,000 after purchasing an additional 4,269 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Airbnb during the 3rd quarter valued at approximately $34,982,000. Tri Ri Asset Management Corp acquired a new stake in shares of Airbnb during the third quarter worth approximately $6,352,000. J.W. Cole Advisors Inc. grew its position in shares of Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after buying an additional 2,132 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Airbnb by 40.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock worth $90,123,000 after buying an additional 197,558 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ABNB shares. Wells Fargo & Company reduced their price objective on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird increased their price target on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Raymond James assumed coverage on Airbnb in a research report on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price for the company. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $139.63.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the completion of the sale, the director now directly owns 1,071,430 shares of the company’s stock, valued at $138,160,898.50. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total value of $81,198.00. Following the sale, the chief technology officer now directly owns 192,244 shares in the company, valued at $26,016,380.52. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,169,543 shares of company stock worth $155,659,368. 27.83% of the stock is owned by corporate insiders.

Airbnb Price Performance

NASDAQ ABNB opened at $127.09 on Friday. The firm has a market capitalization of $80.57 billion, a PE ratio of 44.59, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company’s 50 day simple moving average is $133.97 and its 200 day simple moving average is $131.39.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm posted $2.39 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current fiscal year.

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.