HighTower Advisors LLC Sells 6,114,404 Shares of Airbnb, Inc. $ABNB

HighTower Advisors LLC lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 98.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,679 shares of the company’s stock after selling 6,114,404 shares during the quarter. HighTower Advisors LLC’s holdings in Airbnb were worth $8,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH grew its stake in Airbnb by 3.5% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company’s stock worth $116,873,000 after buying an additional 32,501 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Airbnb by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company’s stock worth $387,186,000 after acquiring an additional 31,120 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Airbnb by 18.1% during the third quarter. Cerity Partners LLC now owns 364,824 shares of the company’s stock worth $44,297,000 after acquiring an additional 55,838 shares during the last quarter. National Pension Service increased its holdings in shares of Airbnb by 1.1% during the third quarter. National Pension Service now owns 1,096,411 shares of the company’s stock valued at $133,126,000 after acquiring an additional 12,453 shares in the last quarter. Finally, Abacus FCF Advisors LLC increased its holdings in shares of Airbnb by 7.8% during the third quarter. Abacus FCF Advisors LLC now owns 135,577 shares of the company’s stock valued at $16,462,000 after acquiring an additional 9,864 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ABNB shares. Truist Financial boosted their target price on shares of Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a research report on Thursday, December 4th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Airbnb in a research note on Wednesday, January 14th. B. Riley Financial raised shares of Airbnb from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $170.00 in a report on Monday, January 12th. Cantor Fitzgerald set a $121.00 target price on Airbnb in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Airbnb from a “hold” rating to a “buy” rating and set a $154.00 price target on the stock in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average price target of $148.69.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 51,230 shares of Airbnb stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $121.15, for a total value of $7,026,700.00. Following the completion of the sale, the director owned 402,015 shares in the company, valued at approximately $48,704,117.25. This represents a 12.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,027,422 shares of company stock valued at $127,060,208 in the last three months. 27.91% of the stock is currently owned by insiders.

Airbnb Price Performance

Shares of Airbnb stock opened at $127.89 on Friday. The stock has a market cap of $78.72 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. The firm has a fifty day moving average price of $131.09 and a 200 day moving average price of $125.96. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $154.57.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.10). The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.Airbnb’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

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.