Airbnb, Inc. $ABNB Holdings Cut by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 41.9% in the first quarter, HoldingsChannel.com reports. The fund owned 10,338 shares of the company’s stock after selling 7,458 shares during the quarter. Sterling Capital Management LLC’s holdings in Airbnb were worth $1,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Caxton Associates LLP bought a new position in Airbnb during the 1st quarter worth $258,000. Intech Investment Management LLC increased its position in Airbnb by 55.8% in the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after buying an additional 4,353 shares during the period. Sivia Capital Partners LLC lifted its stake in Airbnb by 18.8% in the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock valued at $776,000 after buying an additional 927 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Airbnb in the second quarter valued at $411,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Airbnb by 9.8% during the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock valued at $7,153,000 after acquiring an additional 4,811 shares during the period. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

Shares of ABNB opened at $147.17 on Tuesday. Airbnb, Inc. has a one year low of $110.81 and a one year high of $150.19. The stock’s fifty day moving average is $137.54 and its 200-day moving average is $133.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $88.70 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. Equities analysts anticipate that Airbnb, Inc. will post 4.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABNB shares. Citigroup restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. HC Wainwright raised shares of Airbnb to a “buy” rating in a research note on Monday, May 4th. Robert W. Baird upped their target price on shares of Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday. Evercore restated an “outperform” rating on shares of Airbnb in a research note on Friday, May 8th. Finally, Oppenheimer raised Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.36.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 88,366 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total value of $12,884,646.46. Following the sale, the insider directly owned 12,370 shares in the company, valued at approximately $1,803,669.70. The trade was a 87.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the completion of the sale, the chief executive officer directly owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,005,339 shares of company stock valued at $273,061,091 over the last three months. Company insiders own 27.21% 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.