Allspring Global Investments Holdings LLC Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Allspring Global Investments Holdings LLC lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,502 shares of the company’s stock after selling 282 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Airbnb were worth $2,606,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ABNB. Highland Capital Management LLC raised its stake in shares of Airbnb by 48.7% in the 1st quarter. Highland Capital Management LLC now owns 39,492 shares of the company’s stock valued at $4,718,000 after acquiring an additional 12,933 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Airbnb by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 137,333 shares of the company’s stock valued at $16,575,000 after acquiring an additional 8,607 shares during the period. Lafayette Investments Inc. purchased a new position in shares of Airbnb in the 1st quarter valued at $232,000. Jaffetilchin Investment Partners LLC raised its stake in shares of Airbnb by 1.1% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 17,854 shares of the company’s stock valued at $2,133,000 after acquiring an additional 187 shares during the period. Finally, Bartlett & CO. Wealth Management LLC raised its stake in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after acquiring an additional 174 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the completion of the transaction, the director directly owned 1,416,015 shares of the company’s stock, valued at $182,184,489.90. The trade was a 14.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the transaction, the chief financial officer directly owned 485,080 shares of the company’s stock, valued at $59,873,424.40. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,607,528 shares of company stock valued at $201,688,571. Company insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABNB. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and raised their target price for the company from $165.00 to $185.00 in a research note on Monday, March 10th. Royal Bank Of Canada cut their target price on shares of Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company raised their target price on shares of Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a research note on Friday, May 2nd. Evercore ISI cut their target price on shares of Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group dropped their price target on shares of Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Airbnb has an average rating of “Hold” and a consensus price target of $141.23.

Airbnb Stock Performance

NASDAQ ABNB opened at $136.50 on Monday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a 50-day simple moving average of $131.74 and a 200-day simple moving average of $130.51. The firm has a market capitalization of $85.50 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Airbnb, Inc. will post 4.31 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.