Toronto Dominion Bank Cuts Position in Airbnb, Inc. (NASDAQ:ABNB)

Toronto Dominion Bank trimmed its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 98.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,584 shares of the company's stock after selling 13,433,030 shares during the quarter. Toronto Dominion Bank's holdings in Airbnb were worth $29,874,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Synergy Financial Group LTD raised its position in shares of Airbnb by 2.2% during the 3rd quarter. Synergy Financial Group LTD now owns 5,315 shares of the company's stock valued at $674,000 after buying an additional 114 shares in the last quarter. First Dallas Securities Inc. raised its position in Airbnb by 25.2% during the third quarter. First Dallas Securities Inc. now owns 8,930 shares of the company's stock valued at $1,132,000 after purchasing an additional 1,800 shares during the period. Geode Capital Management LLC lifted its stake in shares of Airbnb by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company's stock valued at $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Savoie Capital LLC purchased a new position in shares of Airbnb in the 3rd quarter worth approximately $1,268,000. Finally, M&T Bank Corp increased its position in shares of Airbnb by 2,527.5% during the 3rd quarter. M&T Bank Corp now owns 458,243 shares of the company's stock valued at $58,110,000 after purchasing an additional 440,803 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABNB has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Airbnb from $124.00 to $123.00 and set a "hold" rating for the company in a research note on Wednesday, December 4th. UBS Group lifted their target price on Airbnb from $134.00 to $144.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. DA Davidson upped their price target on shares of Airbnb from $125.00 to $131.00 and gave the stock a "neutral" rating in a report on Monday, November 18th. Susquehanna raised their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a "positive" rating in a research note on Monday, November 11th. Finally, Phillip Securities reissued a "reduce" rating and issued a $120.00 price objective on shares of Airbnb in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $138.94.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the transaction, the chief technology officer now directly owns 185,414 shares of the company's stock, valued at $25,218,158.14. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $137.49, for a total transaction of $5,288,002.89. Following the completion of the transaction, the chief executive officer now owns 12,577,839 shares in the company, valued at $1,729,327,084.11. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 787,926 shares of company stock valued at $101,440,343. Corporate insiders own 27.83% of the company's stock.

Airbnb Price Performance

NASDAQ ABNB traded down $1.37 on Thursday, hitting $137.47. The company had a trading volume of 4,251,614 shares, compared to its average volume of 4,516,366. 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 company's fifty day moving average price is $135.89 and its 200-day moving average price is $134.95. The company has a market capitalization of $87.15 billion, a PE ratio of 48.24, a PEG ratio of 1.91 and a beta of 1.13. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data 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). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. As a group, analysts predict that Airbnb, Inc. will post 3.99 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.