D.A. Davidson & CO. Sells 2,056 Shares of Airbnb, Inc. (NASDAQ:ABNB)

D.A. Davidson & CO. reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 7.2% in the 4th quarter, Holdings Channel reports. The fund owned 26,468 shares of the company’s stock after selling 2,056 shares during the quarter. D.A. Davidson & CO.’s holdings in Airbnb were worth $3,603,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Balentine LLC increased its holdings in shares of Airbnb by 15.7% in the fourth quarter. Balentine LLC now owns 2,112 shares of the company’s stock worth $288,000 after acquiring an additional 286 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Airbnb by 27.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,011 shares of the company’s stock worth $274,000 after acquiring an additional 431 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Airbnb by 103.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 78,413 shares of the company’s stock worth $10,675,000 after acquiring an additional 39,924 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Airbnb in the fourth quarter worth about $1,839,000. Finally, Norges Bank bought a new stake in shares of Airbnb in the fourth quarter worth about $619,584,000. 80.76% of the stock is currently owned by institutional investors.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the transaction, the chief technology officer now owns 146,131 shares in the company, valued at $22,695,605.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $145.71, for a total transaction of $87,426.00. Following the completion of the transaction, the chief technology officer now owns 212,374 shares of the company’s stock, valued at $30,945,015.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the transaction, the chief technology officer now directly owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,324 shares of company stock worth $51,386,281. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

NASDAQ:ABNB opened at $141.04 on Friday. The stock has a market cap of $90.84 billion, a P/E ratio of 18.88, a PEG ratio of 1.76 and a beta of 1.24. The stock has a 50 day simple moving average of $157.97 and a 200 day simple moving average of $147.40. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 1-year low of $103.74 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. Airbnb’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Research analysts anticipate that Airbnb, Inc. will post 4.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABNB shares. Wells Fargo & Company increased their price target on Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a report on Monday, April 1st. Bank of America increased their price objective on Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Thursday, May 9th. Benchmark started coverage on Airbnb in a report on Thursday, April 11th. They set a “buy” rating and a $190.00 price objective for the company. Finally, UBS Group increased their price objective on Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Four research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $152.13.

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.