Vinva Investment Management Ltd Sells 5,462 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Vinva Investment Management Ltd lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 30.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,302 shares of the company's stock after selling 5,462 shares during the period. Vinva Investment Management Ltd's holdings in Airbnb were worth $1,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Airbnb during the 3rd quarter worth $34,982,000. J.W. Cole Advisors Inc. boosted its position in shares of Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company's stock worth $583,000 after purchasing an additional 2,132 shares in the last quarter. Shellback Capital LP bought a new position in shares of Airbnb during the second quarter worth $22,744,000. Bradley Foster & Sargent Inc. CT boosted its position in shares of Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company's stock worth $3,145,000 after purchasing an additional 19,183 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of Airbnb by 2.7% during the second quarter. Plato Investment Management Ltd now owns 13,493 shares of the company's stock worth $2,046,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the transaction, the chief technology officer now directly owns 195,844 shares of the company's stock, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares in the company, valued at $64,448,640. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 718,017 shares of company stock worth $91,842,052 over the last three months. Insiders own 27.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Susquehanna lifted their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a "positive" rating in a research report on Monday, November 11th. DA Davidson boosted their price objective on shares of Airbnb from $125.00 to $131.00 and gave the company a "neutral" rating in a research report on Monday, November 18th. Phillip Securities reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Airbnb in a research note on Tuesday, November 12th. Sanford C. Bernstein lowered their target price on Airbnb from $174.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, September 17th. Finally, Argus cut Airbnb from a "buy" rating to a "hold" rating in a report on Wednesday, September 4th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb has a consensus rating of "Hold" and an average price target of $138.97.

Airbnb Stock Performance

ABNB stock traded down $2.17 during mid-day trading on Friday, hitting $136.11. 2,664,219 shares of the company were exchanged, compared to its average volume of 4,521,642. The business has a 50 day simple moving average of $134.15 and a 200-day simple moving average of $135.40. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $86.29 billion, a PE ratio of 47.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.15. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the business earned $2.39 earnings per share. On average, equities analysts forecast that Airbnb, Inc. will post 4.02 earnings per share for the current year.

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.