Meeder Advisory Services Inc. Sells 561 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Meeder Advisory Services Inc. lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,545 shares of the company’s stock after selling 561 shares during the period. Meeder Advisory Services Inc.’s holdings in Airbnb were worth $957,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Airbnb by 158.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the period. Legal & General Group Plc boosted its position in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares during the period. Farallon Capital Management LLC grew its holdings in Airbnb by 5.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock worth $257,923,000 after acquiring an additional 92,780 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares during the period. Finally, Swedbank AB raised its stake in shares of Airbnb by 8.1% during the second quarter. Swedbank AB now owns 1,150,371 shares of the company’s stock valued at $174,431,000 after acquiring an additional 86,502 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABNB shares. Royal Bank of Canada reduced their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. UBS Group lifted their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna increased their target price on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $138.97.

Airbnb Trading Down 0.6 %

Airbnb stock opened at $131.44 on Wednesday. The business has a 50-day simple moving average of $131.63 and a two-hundred day simple moving average of $136.06. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market cap of $83.33 billion, a P/E ratio of 46.12, a P/E/G ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the firm posted $2.39 EPS. Analysts predict that Airbnb, Inc. will post 4.04 EPS for the current year.

Insider Activity

In other news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. The trade was a 72.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,206 shares of company stock worth $51,738,467 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Airbnb Company Profile

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.