Townsquare Capital LLC Sells 16,278 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Townsquare Capital LLC trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 193,473 shares of the company's stock after selling 16,278 shares during the quarter. Townsquare Capital LLC's holdings in Airbnb were worth $25,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in shares of Airbnb by 7.5% during the fourth quarter. Sterling Capital Management LLC now owns 18,577 shares of the company's stock worth $2,441,000 after purchasing an additional 1,299 shares during the period. Quinn Opportunity Partners LLC increased its stake in Airbnb by 25.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 296,500 shares of the company's stock valued at $38,963,000 after purchasing an additional 59,324 shares in the last quarter. DRH Investments Inc. acquired a new position in Airbnb during the fourth quarter worth $8,423,000. Covestor Ltd lifted its stake in shares of Airbnb by 51.9% in the fourth quarter. Covestor Ltd now owns 2,000 shares of the company's stock valued at $263,000 after buying an additional 683 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Airbnb by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 192,277 shares of the company's stock valued at $25,267,000 after buying an additional 1,210 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the sale, the director now owns 2,294,870 shares in the company, valued at approximately $249,590,061.20. This trade represents a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total value of $5,122,620.59. Following the transaction, the chief executive officer now owns 12,460,447 shares of the company's stock, valued at approximately $1,659,606,935.93. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,036,607 shares of company stock valued at $280,762,098. Corporate insiders own 27.83% of the company's stock.

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Airbnb Stock Performance

Shares of Airbnb stock traded up $1.42 during trading hours on Tuesday, reaching $114.64. The company had a trading volume of 5,180,365 shares, compared to its average volume of 4,755,119. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a one year low of $99.88 and a one year high of $166.74. The firm has a market cap of $72.29 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. The business has a fifty day simple moving average of $130.52 and a 200 day simple moving average of $132.63.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted 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, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ABNB. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a report on Friday, February 14th. Jefferies Financial Group upgraded Airbnb from a "hold" rating to a "buy" rating and raised their target price for the company from $165.00 to $185.00 in a report on Monday, March 10th. Canaccord Genuity Group upped their price target on Airbnb from $165.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Morgan Stanley raised their price objective on Airbnb from $115.00 to $125.00 and gave the company an "underweight" rating in a research note on Monday, January 13th. Finally, Bank of America upped their target price on shares of Airbnb from $154.00 to $159.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $146.56.

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.