Schroder Investment Management Group Sells 35,309 Shares of Airbnb, Inc. $ABNB

Schroder Investment Management Group lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 6.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 515,175 shares of the company’s stock after selling 35,309 shares during the quarter. Schroder Investment Management Group’s holdings in Airbnb were worth $62,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Airbnb in the 3rd quarter worth about $25,000. Root Financial Partners LLC purchased a new stake in shares of Airbnb in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Airbnb by 55.5% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 311 shares of the company’s stock valued at $38,000 after acquiring an additional 111 shares during the last quarter. Ameriflex Group Inc. boosted its position in shares of Airbnb by 986.7% during the 3rd quarter. Ameriflex Group Inc. now owns 326 shares of the company’s stock valued at $40,000 after acquiring an additional 296 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Airbnb by 4,255.6% during the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the company’s stock worth $48,000 after purchasing an additional 383 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Sanford C. Bernstein decreased their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. Cantor Fitzgerald set a $121.00 target price on shares of Airbnb in a research report on Friday, February 13th. Wedbush reissued a “neutral” rating and issued a $130.00 price target on shares of Airbnb in a research note on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating on shares of Airbnb in a report on Wednesday, January 14th. Finally, DA Davidson dropped their price objective on shares of Airbnb from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $149.42.

Airbnb Trading Down 1.2%

Shares of NASDAQ ABNB opened at $132.44 on Wednesday. The stock has a market cap of $80.62 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 1.51 and a beta of 1.12. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $143.88. The stock’s 50-day moving average is $130.42 and its 200 day moving average is $126.64.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $121.97, for a total value of $7,074,260.00. Following the transaction, the director owned 344,015 shares in the company, valued at $41,959,509.55. This trade represents a 14.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 2,565 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $134.79, for a total transaction of $345,736.35. Following the completion of the sale, the chief technology officer directly owned 165,086 shares of the company’s stock, valued at $22,251,941.94. This represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 449,488 shares of company stock valued at $58,706,854. Insiders own 27.83% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.