Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 84.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,485 shares of the company's stock after selling 501,098 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Airbnb were worth $11,348,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Airbnb during the second quarter worth $28,000. Cultivar Capital Inc. bought a new stake in shares of Airbnb in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the third quarter valued at about $25,000. Hollencrest Capital Management raised its position in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Airbnb in the second quarter worth approximately $36,000. 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 76,923 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the sale, the chief executive officer now directly owns 12,616,300 shares in the company, valued at $1,765,525,022. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm'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 value of $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares of the company's stock, valued at $23,501,280. 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 three months, insiders sold 718,017 shares of company stock valued at $91,842,052. Insiders own 27.83% of the company's stock.

Analyst Ratings Changes

ABNB has been the topic of a number of research analyst reports. Susquehanna upped their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a "positive" rating in a research report on Monday, November 11th. Bank of America reaffirmed a "hold" rating and set a $142.00 target price (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Benchmark reiterated a "buy" rating and issued a $155.00 target price on shares of Airbnb in a report on Friday, November 8th. DA Davidson increased their price target on Airbnb from $125.00 to $131.00 and gave the stock a "neutral" rating in a report on Monday, November 18th. Finally, Jefferies Financial Group lifted their price objective on shares of Airbnb from $120.00 to $135.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Airbnb has an average rating of "Hold" and a consensus target price of $138.97.

Airbnb Stock Performance

Shares of ABNB stock traded down $2.17 during mid-day trading on Friday, reaching $136.11. 2,664,219 shares of the company's stock traded hands, compared to its average volume of 5,739,123. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The firm has a 50 day moving average price of $134.15 and a two-hundred day moving average price of $135.32. The firm has a market capitalization of $86.29 billion, a PE ratio of 47.76, a price-to-earnings-growth ratio of 1.93 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the prior year, the firm earned $2.39 EPS. On average, research analysts forecast that Airbnb, Inc. will post 4.02 EPS 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.