MetLife Investment Management LLC Sells 3,689 Shares of Airbnb, Inc. (NASDAQ:ABNB)

MetLife Investment Management LLC trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,262 shares of the company's stock after selling 3,689 shares during the period. MetLife Investment Management LLC's holdings in Airbnb were worth $17,026,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CreativeOne Wealth LLC acquired a new position in Airbnb in the third quarter valued at about $326,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Airbnb in the 3rd quarter valued at about $41,687,000. Bridgewater Associates LP raised its position in shares of Airbnb by 111.6% in the 3rd quarter. Bridgewater Associates LP now owns 349,523 shares of the company's stock valued at $44,323,000 after acquiring an additional 184,311 shares during the period. Cynosure Group LLC acquired a new position in Airbnb during the third quarter valued at approximately $562,000. Finally, Quantbot Technologies LP increased its stake in Airbnb by 183.4% in the third quarter. Quantbot Technologies LP now owns 27,777 shares of the company's stock valued at $3,522,000 after purchasing an additional 17,975 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ:ABNB traded down $1.39 during mid-day trading on Thursday, hitting $138.28. 2,657,033 shares of the stock were exchanged, compared to its average volume of 4,529,713. 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 firm's 50-day simple moving average is $133.86 and its 200 day simple moving average is $135.47. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $87.67 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm posted $2.39 EPS. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABNB has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Airbnb from $100.00 to $102.00 and gave the company an "underweight" rating in a report on Tuesday, October 8th. Bank of America restated a "hold" rating and issued a $142.00 price target (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Argus cut Airbnb from a "buy" rating to a "hold" rating in a report on Wednesday, September 4th. BMO Capital Markets decreased their price objective on Airbnb from $151.00 to $130.00 and set a "market perform" rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird raised their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb has an average rating of "Hold" and an average price target of $138.97.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now owns 164,850 shares in the company, valued at $21,466,767. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 718,017 shares of company stock worth $91,842,052 in the last quarter. Corporate insiders own 27.83% of the company's stock.

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.