Airbnb, Inc. $ABNB Position Lowered by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 28.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,838 shares of the company’s stock after selling 8,175 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Airbnb were worth $3,348,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC bought a new stake in Airbnb during the third quarter worth about $269,000. First Command Advisory Services Inc. grew its holdings in Airbnb by 627.6% in the third quarter. First Command Advisory Services Inc. now owns 211 shares of the company’s stock worth $34,000 after purchasing an additional 182 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Airbnb by 0.6% in the third quarter. Illinois Municipal Retirement Fund now owns 137,529 shares of the company’s stock worth $22,094,000 after purchasing an additional 780 shares during the period. New York Life Investment Management LLC increased its stake in shares of Airbnb by 1.6% during the third quarter. New York Life Investment Management LLC now owns 72,154 shares of the company’s stock valued at $11,592,000 after purchasing an additional 1,110 shares in the last quarter. Finally, 71 West Capital Partners bought a new position in shares of Airbnb during the third quarter valued at approximately $244,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb News Summary

These are some of the ABNB news items that stood out recently:

• Positive Sentiment: Airbnb beat third-quarter earnings and revenue estimates, with revenue up 18.9% year over year. Its newly authorized $12 billion share-repurchase program adds another potential source of support for shareholders. Airbnb earnings and buyback
• Positive Sentiment: Rothschild Redburn upgraded Airbnb from “sell” to “neutral” and raised its price target to $190 from $135, signaling a less cautious view after the company’s recent performance. Redburn changes its Airbnb outlook
• Negative Sentiment: Reports that OpenAI acquired travel-planning platform Odessia raised concerns that AI firms could compete with online travel platforms in planning and bookings, pressuring Airbnb and sector peers. Travel stocks fall on OpenAI acquisition report

Wall Street Analysts Forecast Growth

ABNB has been the subject of several recent research reports. Oppenheimer lifted their target price on shares of Airbnb from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, November 6th. TD Cowen upgraded Airbnb to a “strong-buy” rating in a research note on Monday, September 14th. BNP Paribas Exane raised their price objective on Airbnb from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Evercore reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Airbnb in a research report on Friday, November 6th. Finally, Argus lifted their price objective on Airbnb from $165.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.46.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 1,756 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $167.38, for a total transaction of $293,919.28. Following the completion of the sale, the chief accounting officer directly owned 43,899 shares in the company, valued at approximately $7,347,814.62. The trade was a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 13,625 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $194.37, for a total value of $2,648,291.25. Following the completion of the transaction, the insider directly owned 20,567 shares in the company, valued at approximately $3,997,607.79. This represents a 39.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 638,891 shares of company stock valued at $120,204,649. Corporate insiders own 27.21% of the company’s stock.

Airbnb Trading Down 3.1%

NASDAQ:ABNB opened at $181.13 on Thursday. The company’s 50 day moving average price is $169.13 and its 200-day moving average price is $148.51. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $197.87. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.25. The stock has a market cap of $108.46 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 1.98 and a beta of 1.26.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 5th. The company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.31. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.75 billion. Airbnb had a net margin of 23.02% and a return on equity of 38.94%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. On average, equities research analysts forecast that Airbnb, Inc. will post 5.49 earnings per share for the current fiscal year.

Airbnb Profile

Airbnb operates an online marketplace that connects travelers with hosts offering short-term stays and other travel-related services. Listings include apartments, houses, rooms and distinctive accommodations, with options ranging from brief visits to longer stays. The platform also offers bookable experiences in destinations around the world. Founded in 2007 in San Francisco, Airbnb was started by Brian Chesky, Nathan Blecharczyk and Joe Gebbia. The company serves guests and hosts in more than 220 countries and regions, providing tools for listing properties, managing reservations and handling payments.