Airbnb, Inc. (NASDAQ:ABNB) Holdings Cut by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,517 shares of the company’s stock after selling 257 shares during the quarter. Cravens & Co Advisors LLC’s holdings in Airbnb were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ABNB. Pacer Advisors Inc. grew its holdings in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Assenagon Asset Management S.A. grew its stake 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 worth $256,784,000 after purchasing an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC acquired a new position in shares of Airbnb during the first quarter valued at $265,292,000. Edgewood Management LLC lifted its holdings in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Finally, International Assets Investment Management LLC grew its position in Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after buying an additional 1,113,747 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

ABNB opened at $139.67 on Wednesday. The company’s 50 day simple moving average is $133.55 and its 200-day simple moving average is $135.45. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $88.55 billion, a P/E ratio of 49.01, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued 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 firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period last year, the company earned $2.39 EPS. Sell-side analysts anticipate that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABNB. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. BMO Capital Markets cut their price target on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Sanford C. Bernstein reduced their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, Susquehanna increased their price objective on Airbnb from $130.00 to $160.00 and gave the company 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $138.97.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The stock was 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 in the company, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at approximately $23,501,280. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 641,094 shares of company stock worth $81,077,447 in the last quarter. 27.83% of the stock is owned by company insiders.

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.