Townsquare Capital LLC Sells 10,885 Shares of Airbnb, Inc. $ABNB

Townsquare Capital LLC trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 69.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,882 shares of the company’s stock after selling 10,885 shares during the quarter. Townsquare Capital LLC’s holdings in Airbnb were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Harris Associates L P grew its stake in Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after acquiring an additional 4,292,383 shares in the last quarter. Norges Bank purchased a new position in Airbnb during the 2nd quarter worth $483,644,000. Amundi increased its holdings in Airbnb by 112.3% during the 2nd quarter. Amundi now owns 2,670,251 shares of the company’s stock worth $361,525,000 after purchasing an additional 1,412,608 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in Airbnb during the 2nd quarter valued at $170,189,000. Finally, Bank of Nova Scotia lifted its holdings in shares of Airbnb by 1,232.7% in the 2nd quarter. Bank of Nova Scotia now owns 956,188 shares of the company’s stock worth $126,542,000 after buying an additional 884,439 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.8%

NASDAQ:ABNB opened at $129.37 on Friday. The stock has a market capitalization of $79.63 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.04 and a beta of 1.09. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a 50 day moving average of $130.57 and a 200 day moving average of $127.47.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the completion of the sale, the chief executive officer directly owned 45,854 shares in the company, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $120.66, for a total value of $28,475,760.00. Following the completion of the sale, the director directly owned 232,015 shares of the company’s stock, valued at approximately $27,994,929.90. This represents a 50.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,202,272 shares of company stock valued at $148,094,596 in the last ninety days. Corporate insiders own 27.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABNB. Cantor Fitzgerald upgraded Airbnb from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $117.00 to $141.00 in a report on Thursday, January 8th. Truist Financial boosted their price target on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, January 21st. Mizuho set a $156.00 price objective on shares of Airbnb in a report on Friday, November 7th. Finally, Morgan Stanley upped their target price on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average price target of $147.84.

Airbnb Company Profile

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.