Adage Capital Partners GP L.L.C. Sells 88,700 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Adage Capital Partners GP L.L.C. lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 359,400 shares of the company's stock after selling 88,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.06% of Airbnb worth $47,229,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Airbnb during the fourth quarter worth about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $26,000. Graney & King LLC acquired a new stake in Airbnb in the 4th quarter worth about $32,000. Whipplewood Advisors LLC purchased a new stake in Airbnb in the fourth quarter valued at approximately $44,000. Finally, Cromwell Holdings LLC grew its stake in shares of Airbnb by 82.5% during the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company's stock valued at $49,000 after buying an additional 170 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on ABNB shares. Wedbush restated an "outperform" rating and issued a $155.00 price target on shares of Airbnb in a report on Tuesday, February 4th. Benchmark boosted their price target on Airbnb from $150.00 to $178.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company dropped their price objective on shares of Airbnb from $134.00 to $100.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. B. Riley upped their target price on shares of Airbnb from $131.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group dropped their price target on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb currently has an average rating of "Hold" and an average target price of $146.06.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 700 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $112.59, for a total value of $78,813.00. Following the transaction, the chief technology officer now owns 222,122 shares in the company, valued at $25,008,715.98. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $129.21, for a total transaction of $27,687,764.85. Following the completion of the transaction, the director now owns 857,145 shares in the company, valued at approximately $110,751,705.45. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,213,131 shares of company stock worth $300,179,370. 27.83% of the stock is owned by company insiders.

Airbnb Stock Performance

Shares of ABNB stock traded up $0.79 during trading hours on Monday, reaching $123.30. The stock had a trading volume of 5,608,284 shares, compared to its average volume of 4,803,556. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a 50-day simple moving average of $125.67 and a 200-day simple moving average of $131.90. The firm has a market capitalization of $77.75 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $165.50.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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%. As a group, equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.