Cornerstone Advisory LLC Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Cornerstone Advisory LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNBGet Rating) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,678 shares of the company’s stock after selling 379 shares during the quarter. Cornerstone Advisory LLC’s holdings in Airbnb were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. lifted its stake in Airbnb by 77.1% during the 4th quarter. Principal Financial Group Inc. now owns 6,112 shares of the company’s stock worth $1,018,000 after acquiring an additional 2,660 shares in the last quarter. Aviva PLC acquired a new position in Airbnb during the 4th quarter worth about $268,000. Covestor Ltd acquired a new position in Airbnb during the 4th quarter worth about $45,000. Private Advisor Group LLC lifted its stake in Airbnb by 2.1% during the 4th quarter. Private Advisor Group LLC now owns 31,871 shares of the company’s stock worth $5,306,000 after acquiring an additional 648 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in Airbnb by 26.3% during the 4th quarter. Great Valley Advisor Group Inc. now owns 12,028 shares of the company’s stock worth $2,003,000 after acquiring an additional 2,501 shares in the last quarter. 39.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Truist Financial reduced their price target on Airbnb from $160.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, July 14th. Susquehanna reduced their price target on Airbnb from $190.00 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, August 3rd. UBS Group reduced their price target on Airbnb from $185.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Needham & Company LLC reduced their price target on Airbnb from $220.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Finally, Morgan Stanley increased their price target on Airbnb from $100.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus price target of $159.15.

Insiders Place Their Bets

In other Airbnb news, insider Joseph Gebbia sold 250,000 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $125.33, for a total transaction of $31,332,500.00. Following the transaction, the insider now directly owns 2,250,101 shares of the company’s stock, valued at $282,005,158.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, insider Joseph Gebbia sold 250,000 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $125.33, for a total transaction of $31,332,500.00. Following the transaction, the insider now directly owns 2,250,101 shares of the company’s stock, valued at $282,005,158.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 2,500 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $89.09, for a total transaction of $222,725.00. Following the transaction, the chief technology officer now directly owns 263,703 shares in the company, valued at $23,493,300.27. The disclosure for this sale can be found here. Insiders have sold 595,669 shares of company stock valued at $65,856,145 over the last three months. 32.69% of the stock is currently owned by insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $126.80 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. Airbnb, Inc. has a 1 year low of $86.71 and a 1 year high of $212.58. The business has a fifty day simple moving average of $111.92 and a 200 day simple moving average of $127.42. The firm has a market cap of $82.26 billion, a price-to-earnings ratio of 69.29 and a beta of 1.14.

Airbnb (NASDAQ:ABNBGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. Airbnb had a return on equity of 26.03% and a net margin of 16.91%. During the same quarter last year, the business earned ($0.11) earnings per share. As a group, sell-side analysts predict that Airbnb, Inc. will post 2.25 earnings per share for the current fiscal year.

Airbnb Company Profile

(Get Rating)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

See Also

Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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