Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,000 shares of the company’s stock after selling 26,100 shares during the period. Forsta AP Fonden’s holdings in Airbnb were worth $10,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MJP Associates Inc. ADV increased its holdings in Airbnb by 1.8% in the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after buying an additional 67 shares during the period. Ellevest Inc. lifted its stake in Airbnb by 3.1% during the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock valued at $349,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after acquiring an additional 80 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Airbnb by 4.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after acquiring an additional 83 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock worth $176,000 after acquiring an additional 90 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

ABNB stock opened at $121.02 on Friday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market capitalization of $75.81 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The business has a 50 day simple moving average of $134.96 and a 200-day simple moving average of $130.97.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ABNB shares. DA Davidson upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and decreased their target price for the company from $170.00 to $155.00 in a research report on Wednesday, April 30th. Cantor Fitzgerald reiterated an “underweight” rating and set a $100.00 price objective on shares of Airbnb in a research note on Wednesday, May 14th. BTIG Research restated a “neutral” rating on shares of Airbnb in a research note on Wednesday, May 28th. UBS Group reduced their price target on Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wedbush decreased their price target on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.59.

Insider Activity

In other news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $129.71, for a total value of $30,611,560.00. Following the completion of the sale, the director owned 236,015 shares of the company’s stock, valued at $30,613,505.65. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the chief accounting officer owned 42,619 shares of the company’s stock, valued at $6,051,898. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,671,023 shares of company stock worth $223,195,427. Company insiders own 27.91% of the company’s stock.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.