Airbnb, Inc. $ABNB Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,175 shares of the company’s stock after selling 327 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Airbnb were worth $2,867,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABNB. Harris Associates L P raised its stake in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after acquiring an additional 4,598,125 shares in the last quarter. Pacer Advisors Inc. raised its stake in Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after acquiring an additional 2,685,026 shares in the last quarter. AQR Capital Management LLC raised its stake in Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after acquiring an additional 1,916,676 shares in the last quarter. Principal Financial Group Inc. raised its stake in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after acquiring an additional 1,389,251 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in Airbnb during the 2nd quarter valued at $170,189,000. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total value of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares of the company’s stock, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $124.26, for a total value of $74,556.00. Following the completion of the sale, the chief technology officer directly owned 197,206 shares of the company’s stock, valued at $24,504,817.56. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,431,476 shares of company stock valued at $178,130,616 over the last quarter. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $128.56 on Wednesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The business’s 50-day moving average price is $124.31 and its two-hundred day moving average price is $127.54. The company has a market capitalization of $79.89 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on ABNB. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a research note on Tuesday, October 7th. Phillip Securities raised Airbnb from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 8th. Barclays set a $105.00 price objective on Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Finally, UBS Group cut their target price on Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.81.

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.