Airbnb, Inc. (NASDAQ:ABNB) Stock Position Reduced by KBC Group NV

KBC Group NV cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 69.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,608 shares of the company's stock after selling 193,218 shares during the period. KBC Group NV's holdings in Airbnb were worth $10,983,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of Airbnb during the first quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Airbnb during the third quarter worth approximately $25,000. Hollencrest Capital Management increased its holdings 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 purchasing an additional 200 shares during the period. New Millennium Group LLC bought a new position in shares of Airbnb during the second quarter worth approximately $28,000. Finally, Cultivar Capital Inc. bought a new position in shares of Airbnb during the second quarter worth approximately $30,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Trading Down 1.5 %

Airbnb stock traded down $2.06 during midday trading on Friday, reaching $132.50. 4,798,719 shares of the stock traded hands, compared to its average volume of 5,057,547. The company has a 50-day simple moving average of $130.99 and a two-hundred day simple moving average of $136.58. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market cap of $84.00 billion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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). The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the business posted $2.39 EPS. Research analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joseph Gebbia sold 11,635 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares in the company, valued at $2,259,958.40. This represents a 41.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the transaction, the chief financial officer now owns 537,072 shares of the company's stock, valued at $64,448,640. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,806 shares of company stock valued at $51,809,831. Company insiders own 27.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABNB shares. Piper Sandler lifted their price objective on shares of Airbnb from $125.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Benchmark reissued a "buy" rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Wedbush lifted their price objective on shares of Airbnb from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Mizuho decreased their price objective on shares of Airbnb from $175.00 to $170.00 and set an "outperform" rating on the stock in a research note on Friday, September 13th. Finally, Cantor Fitzgerald reissued an "underweight" rating and issued a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $139.31.

Airbnb 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.