Airbnb, Inc. (NASDAQ:ABNB) Position Lessened by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,431 shares of the company's stock after selling 3,937 shares during the quarter. NewEdge Advisors LLC's holdings in Airbnb were worth $1,896,000 at the end of the most recent quarter.

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

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at approximately $1,934,067,139.08. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $128.15, for a total value of $89,705.00. Following the completion of the transaction, the chief technology officer now directly owns 182,614 shares in the company, valued at $23,401,984.10. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,998,146 shares of company stock valued at $275,624,925 in the last 90 days. 27.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Baird R W upgraded shares of Airbnb from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Wedbush reaffirmed an "outperform" rating and issued a $155.00 price target on shares of Airbnb in a research report on Tuesday, February 4th. The Goldman Sachs Group upgraded Airbnb from a "sell" rating to a "neutral" rating and upped their price target for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Gordon Haskett upgraded shares of Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price objective on the stock in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Airbnb from a "hold" rating to a "buy" rating and upped their target price for the company from $165.00 to $185.00 in a research note on Monday, March 10th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $146.94.

Airbnb Stock Performance

Shares of ABNB stock opened at $114.91 on Wednesday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $166.74. The company has a 50-day simple moving average of $128.09 and a 200 day simple moving average of $132.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market capitalization of $72.46 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Airbnb 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.

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