Edgewood Management LLC Reduces Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Edgewood Management LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,526,097 shares of the company's stock after selling 1,056,336 shares during the period. Airbnb accounts for 4.7% of Edgewood Management LLC's investment portfolio, making the stock its 10th biggest position. Edgewood Management LLC owned approximately 1.98% of Airbnb worth $1,646,054,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABNB. Golden State Wealth Management LLC bought a new stake in shares of Airbnb during the fourth quarter valued at about $25,000. Berbice Capital Management LLC purchased a new position in Airbnb during the fourth quarter valued at approximately $26,000. Graney & King LLC bought a new stake in Airbnb during the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new stake in Airbnb during the 4th quarter worth approximately $44,000. Finally, Cromwell Holdings LLC lifted its stake in Airbnb by 82.5% in the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company's stock worth $49,000 after purchasing an additional 170 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Trading Up 0.1 %

Shares of NASDAQ ABNB traded up $0.14 during trading hours on Friday, hitting $114.05. The company's stock had a trading volume of 1,992,390 shares, compared to its average volume of 4,731,412. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $166.74. The stock has a market cap of $71.91 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The business has a 50-day simple moving average of $131.53 and a 200-day simple moving average of $132.95.

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Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABNB. The Goldman Sachs Group raised shares of Airbnb from a "sell" rating to a "neutral" rating and upped their price target for the stock from $110.00 to $153.00 in a report on Friday, February 14th. Baird R W upgraded Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Gordon Haskett raised Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price target on the stock in a report on Friday, February 14th. Susquehanna lifted their price target on Airbnb from $160.00 to $200.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Finally, Hsbc Global Res upgraded shares of Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $146.56.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 183,078 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now directly owns 164,850 shares in the company, valued at $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total value of $5,122,620.59. Following the sale, the chief executive officer now directly owns 12,460,447 shares in the company, 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. Insiders have sold a total of 2,245,342 shares of company stock worth $307,735,023 over the last quarter. Corporate 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.