Salem Investment Counselors Inc. Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

Salem Investment Counselors Inc. cut its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,925 shares of the company's stock after selling 7,844 shares during the period. Salem Investment Counselors Inc.'s holdings in Airbnb were worth $2,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ABNB. Northwest Investment Counselors LLC bought a new stake in shares of Airbnb in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its stake in Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company's stock valued at $26,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Airbnb in the third quarter valued at $30,000. Quarry LP acquired a new position in shares of Airbnb during the third quarter valued at $55,000. Finally, CVA Family Office LLC grew its position in shares of Airbnb by 131.2% during the third quarter. CVA Family Office LLC now owns 474 shares of the company's stock worth $60,000 after acquiring an additional 269 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Down 1.0 %

ABNB traded down $1.25 during midday trading on Tuesday, reaching $127.60. 3,998,909 shares of the company were exchanged, compared to its average volume of 3,714,726. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company's fifty day moving average price is $134.62 and its 200 day moving average price is $132.22. The company has a market cap of $80.89 billion, a price-to-earnings ratio of 44.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released 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 return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter last year, the firm posted $2.39 earnings per share. As a group, analysts expect that Airbnb, Inc. will post 3.99 EPS for the current year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the transaction, the director now directly owns 10,321 shares of the company's stock, valued at $1,352,876.68. This represents a 95.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 915,997 shares of company stock worth $122,800,660 in the last 90 days. Insiders own 27.83% of the company's stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of analyst reports. Raymond James started coverage on shares of Airbnb in a research note on Friday, September 27th. They set a "market perform" rating and a $134.00 target price for the company. UBS Group increased their price objective on Airbnb from $134.00 to $144.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Susquehanna raised their target price on Airbnb from $130.00 to $160.00 and gave the company a "positive" rating in a research report on Monday, November 11th. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research note on Monday, December 16th. Finally, Truist Financial cut their price objective on shares of Airbnb from $124.00 to $123.00 and set a "hold" rating on the stock in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and a consensus price target of $139.32.

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.