Fifth Third Bancorp Reduces Stake in Airbnb, Inc. (NASDAQ:ABNB)

Fifth Third Bancorp lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNBGet Rating) by 72.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 367 shares of the company’s stock after selling 966 shares during the period. Fifth Third Bancorp’s holdings in Airbnb were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellesley Asset Management purchased a new stake in shares of Airbnb in the first quarter valued at about $121,000. First Horizon Advisors Inc. grew its holdings in shares of Airbnb by 326.0% in the second quarter. First Horizon Advisors Inc. now owns 328 shares of the company’s stock valued at $28,000 after purchasing an additional 251 shares during the period. Atticus Wealth Management LLC grew its holdings in shares of Airbnb by 243.8% in the second quarter. Atticus Wealth Management LLC now owns 330 shares of the company’s stock valued at $29,000 after purchasing an additional 234 shares during the period. West Branch Capital LLC purchased a new stake in shares of Airbnb in the second quarter valued at about $31,000. Finally, Glassman Wealth Services purchased a new stake in shares of Airbnb in the second quarter valued at about $33,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Insider Activity

In other news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $84.09, for a total value of $978,387.15. Following the transaction, the director now directly owns 113,087 shares of the company’s stock, valued at approximately $9,509,485.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $84.09, for a total value of $978,387.15. Following the transaction, the director now directly owns 113,087 shares in the company, valued at approximately $9,509,485.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 2,750 shares of Airbnb stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $88.61, for a total transaction of $243,677.50. Following the completion of the transaction, the chief technology officer now owns 202,296 shares in the company, valued at $17,925,448.56. The disclosure for this sale can be found here. Insiders have sold 568,522 shares of company stock valued at $57,269,913 in the last ninety days. 32.69% of the stock is currently owned by company insiders.

Airbnb Stock Up 1.9 %

ABNB stock opened at $100.37 on Friday. The company’s 50 day moving average is $93.75 and its two-hundred day moving average is $104.38. The stock has a market cap of $64.48 billion, a P/E ratio of 41.82, a PEG ratio of 1.53 and a beta of 1.01. Airbnb, Inc. has a twelve month low of $81.91 and a twelve month high of $191.73. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36.

Airbnb (NASDAQ:ABNBGet Rating) last announced its earnings results on Tuesday, November 1st. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.36. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Airbnb had a net margin of 20.28% and a return on equity of 32.13%. Research analysts expect that Airbnb, Inc. will post 2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of Airbnb in a report on Tuesday, October 4th. They issued an “outperform” rating and a $143.00 price objective for the company. Piper Sandler lowered their target price on shares of Airbnb from $121.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, November 1st. Susquehanna lowered their target price on shares of Airbnb from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Wednesday, November 2nd. Credit Suisse Group lowered their target price on shares of Airbnb from $165.00 to $154.00 and set a “neutral” rating for the company in a research note on Wednesday, November 2nd. Finally, Barclays increased their target price on shares of Airbnb from $101.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $140.00.

About Airbnb

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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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