Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 27.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,565 shares of the company’s stock after selling 580 shares during the quarter. Cornerstone Capital Inc.’s holdings in Airbnb were worth $206,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABNB. Dimensional Fund Advisors LP increased its stake in Airbnb by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 812,476 shares of the company’s stock worth $106,769,000 after acquiring an additional 17,620 shares during the last quarter. Capital International Ltd. CA raised its stake in shares of Airbnb by 2.0% in the fourth quarter. Capital International Ltd. CA now owns 81,847 shares of the company’s stock valued at $10,756,000 after acquiring an additional 1,573 shares in the last quarter. Capital Group Investment Management PTE. LTD. boosted its stake in shares of Airbnb by 2.1% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 17,533 shares of the company’s stock valued at $2,304,000 after buying an additional 369 shares during the period. Capital International Sarl raised its stake in Airbnb by 7.0% during the 4th quarter. Capital International Sarl now owns 117,260 shares of the company’s stock worth $15,409,000 after acquiring an additional 7,646 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its stake in shares of Airbnb by 12.9% during the fourth quarter. Altshuler Shaham Ltd now owns 16,151 shares of the company’s stock worth $2,122,000 after purchasing an additional 1,844 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $135.47, for a total value of $94,829.00. Following the sale, the chief technology officer now directly owns 183,314 shares of the company’s stock, valued at approximately $24,833,547.58. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chesky sold 38,461 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the sale, the chief executive officer now owns 12,460,447 shares in the company, valued at approximately $1,659,606,935.93. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,037,307 shares of company stock valued at $280,842,374 over the last ninety days. 27.83% of the stock is owned by company insiders.

Airbnb Price Performance

Airbnb stock opened at $112.70 on Friday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $166.74. The company has a market cap of $71.06 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 3.52 and a beta of 1.15. The firm’s fifty day moving average is $129.19 and its 200 day moving average is $132.31. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABNB. JPMorgan Chase & Co. reduced their target price on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Susquehanna upped their price objective on shares of Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Wells Fargo & Company cut their price target on shares of Airbnb from $134.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, April 7th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research note on Friday, February 14th. Finally, Robert W. Baird reduced their price objective on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Five research analysts have rated the stock with a sell rating, seventeen 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 MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $146.94.

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.