Los Angeles Capital Management LLC Sells 4,400 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Los Angeles Capital Management LLC lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 67.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,102 shares of the company's stock after selling 4,400 shares during the quarter. Los Angeles Capital Management LLC's holdings in Airbnb were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in Airbnb in the first quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management increased its position in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. New Millennium Group LLC purchased a new stake in Airbnb during the second quarter worth approximately $28,000. Finally, Cultivar Capital Inc. acquired a new stake in Airbnb in the 2nd quarter valued at $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB traded down $1.29 on Tuesday, hitting $130.90. 3,410,583 shares of the company's stock were exchanged, compared to its average volume of 4,510,527. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $131.30 and a 200-day moving average price of $136.26. The stock has a market cap of $82.99 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business earned $2.39 earnings per share. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABNB shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Airbnb from $143.00 to $90.00 and set a "hold" rating on the stock in a research note on Wednesday, August 7th. DA Davidson upped their target price on Airbnb from $125.00 to $131.00 and gave the company a "neutral" rating in a research report on Monday. Piper Sandler upped their price target on shares of Airbnb from $125.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, November 8th. TD Cowen boosted their target price on shares of Airbnb from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, BMO Capital Markets dropped their price target on Airbnb from $151.00 to $130.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $138.97.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 11,635 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at approximately $2,259,958.40. This represents a 41.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company'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 $72,000.00. Following the completion of the transaction, the chief technology officer now owns 195,844 shares in the company, valued at approximately $23,501,280. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 417,206 shares of company stock valued at $51,738,467. Insiders own 27.83% of the company's stock.

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.