Sei Investments Co. Reduces Position in Airbnb, Inc. $ABNB

Sei Investments Co. lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 491,758 shares of the company’s stock after selling 40,001 shares during the quarter. Sei Investments Co. owned about 0.08% of Airbnb worth $62,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harris Associates L P raised its holdings in Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after acquiring an additional 4,292,383 shares during the period. Norges Bank bought a new position in Airbnb in the 4th quarter valued at $480,332,000. Jennison Associates LLC boosted its holdings in Airbnb by 9,331.0% in the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after purchasing an additional 3,139,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after purchasing an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC bought a new position in shares of Airbnb in the fourth quarter worth $342,017,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 2.6%

Shares of ABNB opened at $141.10 on Friday. The firm has a market cap of $85.04 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $150.88. The firm has a 50 day moving average price of $139.84 and a 200-day moving average price of $134.62.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. Airbnb’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.93 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.37, for a total value of $2,020,057.55. Following the transaction, the insider owned 81,677 shares in the company, valued at approximately $12,118,416.49. The trade was a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $148.01, for a total value of $555,037.50. Following the completion of the sale, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. This trade represents a 0.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,231,864 shares of company stock valued at $308,474,278. Corporate insiders own 27.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABNB shares. Raymond James Financial upgraded shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a research report on Monday, May 4th. The Goldman Sachs Group set a $155.00 price target on shares of Airbnb in a report on Monday, July 20th. Wells Fargo & Company lifted their price objective on shares of Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Evercore reiterated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $170.00 target price on shares of Airbnb in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.65.

Airbnb 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.