UMB Bank n.a. Sells 116 Shares of Airbnb, Inc. (NASDAQ:ABNB)

UMB Bank n.a. lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 819 shares of the company’s stock after selling 116 shares during the quarter. UMB Bank n.a.’s holdings in Airbnb were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock worth $1,244,514,000 after buying an additional 72,991 shares during the period. Clearbridge Investments LLC lifted its position in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after buying an additional 2,590,475 shares during the period. Northern Trust Corp raised its position in Airbnb by 8.4% in the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock valued at $564,647,000 after purchasing an additional 331,607 shares during the last quarter. Renaissance Technologies LLC raised its position in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after purchasing an additional 558,856 shares during the last quarter. Finally, Norges Bank bought a new position in Airbnb in the 4th quarter valued at $433,374,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 0.5%

NASDAQ:ABNB opened at $138.81 on Friday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The stock has a market cap of $86.95 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 3.52 and a beta of 1.14. The stock has a 50-day moving average price of $125.71 and a two-hundred day moving average price of $130.81.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABNB. DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and cut their price objective for the company from $170.00 to $155.00 in a research report on Wednesday, April 30th. B. Riley cut their price objective on Airbnb from $145.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated an “underweight” rating and issued a $100.00 price objective on shares of Airbnb in a research report on Wednesday, May 14th. Morgan Stanley lifted their price objective on Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a research report on Thursday, April 17th. Finally, HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $141.23.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the transaction, the director now directly owns 1,180,015 shares of the company’s stock, valued at $164,494,091. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the transaction, the chief financial officer now directly owns 467,611 shares of the company’s stock, valued at $61,855,583.08. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,663,033 shares of company stock valued at $208,384,185. Company insiders own 27.91% of the company’s stock.

About Airbnb

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.