Los Angeles Capital Management LLC Sells 64,401 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Los Angeles Capital Management LLC lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 96.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,164 shares of the company's stock after selling 64,401 shares during the quarter. Los Angeles Capital Management LLC's holdings in Airbnb were worth $357,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in ABNB. Mount Vernon Associates Inc. MD lifted its position in shares of Airbnb by 1.0% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,270 shares of the company's stock worth $990,000 after buying an additional 75 shares during the last quarter. Cambridge Trust Co. boosted its holdings in Airbnb by 10.0% during the fourth quarter. Cambridge Trust Co. now owns 825 shares of the company's stock valued at $112,000 after purchasing an additional 75 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in Airbnb by 0.5% during the fourth quarter. Waldron Private Wealth LLC now owns 16,171 shares of the company's stock valued at $2,201,000 after purchasing an additional 78 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Airbnb by 36.2% in the 4th quarter. Venturi Wealth Management LLC now owns 301 shares of the company's stock worth $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Centurion Wealth Management LLC raised its position in shares of Airbnb by 2.3% during the 4th quarter. Centurion Wealth Management LLC now owns 3,605 shares of the company's stock valued at $491,000 after acquiring an additional 81 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Up 1.1 %

ABNB traded up $1.61 on Thursday, hitting $151.61. The company had a trading volume of 3,580,522 shares, compared to its average volume of 4,436,335. Airbnb, Inc. has a 52-week low of $113.24 and a 52-week high of $170.10. The stock has a fifty day simple moving average of $150.50 and a 200-day simple moving average of $150.85. The firm has a market capitalization of $97.64 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the company posted $0.18 earnings per share. The firm's quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities analysts expect that Airbnb, Inc. will post 4.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. B. Riley initiated coverage on Airbnb in a report on Wednesday, April 3rd. They set a "neutral" rating and a $150.00 target price for the company. Piper Sandler reiterated a "neutral" rating and set a $155.00 price target (up previously from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Thursday, May 9th. TD Cowen reduced their target price on shares of Airbnb from $180.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. Finally, Mizuho raised shares of Airbnb from a "neutral" rating to a "buy" rating and raised their price target for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $152.38.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the transaction, the chief technology officer now directly owns 209,374 shares in the company, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the transaction, the chief technology officer now owns 209,374 shares in the company, valued at approximately $31,190,444.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 115,385 shares of the company's stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $146.08, for a total transaction of $16,855,440.80. Following the transaction, the chief executive officer now owns 14,260,457 shares in the company, valued at approximately $2,083,167,558.56. The disclosure for this sale can be found here. Insiders have sold a total of 413,287 shares of company stock worth $61,071,555 in the last three months. 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.