Flagship Harbor Advisors LLC Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Flagship Harbor Advisors LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,729 shares of the company’s stock after selling 1,838 shares during the period. Flagship Harbor Advisors LLC’s holdings in Airbnb were worth $753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in Airbnb in the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its holdings in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in Airbnb in the 3rd quarter valued at about $30,000. Finally, Quarry LP purchased a new stake in Airbnb during the 3rd quarter valued at approximately $55,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Up 1.5 %

Shares of NASDAQ:ABNB opened at $128.96 on Tuesday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The stock’s 50-day moving average price is $133.90 and its two-hundred day moving average price is $130.98. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a market cap of $81.76 billion, a price-to-earnings ratio of 45.25, a PEG ratio of 1.80 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its earnings results 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 during 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 in the previous year, the firm posted $2.39 earnings per share. On average, research analysts forecast that Airbnb, Inc. will post 3.98 EPS for the current year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total value of $28,088,477.80. Following the transaction, the director now owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the sale, the chief executive officer now owns 12,460,447 shares of the company’s stock, valued at approximately $1,659,606,935.93. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,157,308 shares of company stock worth $153,981,848 in the last ninety days. Insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABNB. Jefferies Financial Group increased their price target on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Bank of America increased their price target on shares of Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Truist Financial reduced their price target on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a report on Wednesday, December 4th. Evercore ISI raised their target price on Airbnb to $155.00 and gave the company a “hold” rating in a report on Wednesday, January 15th. Finally, Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a report on Monday, October 7th. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.63.

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.