PNC Financial Services Group Inc. Sells 4,438 Shares of Airbnb, Inc. (NASDAQ:ABNB)

PNC Financial Services Group Inc. lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,707 shares of the company's stock after selling 4,438 shares during the period. PNC Financial Services Group Inc.'s holdings in Airbnb were worth $13,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Verde Capital Management boosted its stake in shares of Airbnb by 25.3% during the 4th quarter. Verde Capital Management now owns 21,118 shares of the company's stock valued at $2,775,000 after purchasing an additional 4,269 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Airbnb during the 3rd quarter valued at approximately $34,982,000. Tri Ri Asset Management Corp purchased a new position in shares of Airbnb during the 3rd quarter worth approximately $6,352,000. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of Airbnb by 14.8% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company's stock worth $6,498,000 after acquiring an additional 6,357 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Airbnb by 40.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company's stock worth $90,123,000 after acquiring an additional 197,558 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $131.88, for a total transaction of $28,259,905.80. Following the transaction, the director now owns 1,285,715 shares in the company, valued at $169,560,094.20. This trade represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 38,461 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $133.58, for a total value of $5,137,620.38. Following the completion of the sale, the chief executive officer now owns 12,537,369 shares of the company's stock, valued at $1,674,741,751.02. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,054,509 shares of company stock worth $290,940,989. 27.83% of the stock is owned by company insiders.

Airbnb Stock Performance

Shares of ABNB opened at $125.44 on Wednesday. The firm has a market capitalization of $79.09 billion, a P/E ratio of 30.37, a PEG ratio of 3.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The business has a fifty day moving average of $136.82 and a 200 day moving average of $132.94.

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Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Airbnb to $155.00 and gave the stock a "hold" rating in a research note on Wednesday, January 15th. Barclays upped their target price on shares of Airbnb from $110.00 to $120.00 and gave the stock an "underweight" rating in a research report on Friday, February 14th. The Goldman Sachs Group raised shares of Airbnb from a "sell" rating to a "neutral" rating and lifted their price target for the company from $110.00 to $153.00 in a research report on Friday, February 14th. B. Riley upped their price objective on shares of Airbnb from $131.00 to $145.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, HSBC upgraded shares of Airbnb from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has an average rating of "Hold" and an average target price of $148.00.

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.

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